Posts tagged economic integration
The 2011 Eurozone Crisis
Nov 27th
Image: Some rights reserved by Images_of_Money
Here are some online resources to explore the so called Eurozone crisis that is occurring in late 2011:
Is the Euro Crumbling? Excellent, simplified infographic video on background behind current Eurozone crisis by BBC.
How can countries go bust? Useful one minute summary by the BBC’s Robert Preston.
In graphics: The Eurozone’s crisis – BBC provides useful graphs for comparing deficit, GDP, Unemployment and Debt in Eurozone countries and UK.
Timeline: The unfolding eurozone crisis by the BBC
Eurozone debt web: Who owes what to whom? infographic by BBC
EU Debt Crisis in Charts Infographic – via forexnewsnow.com
It’s All Connected: An Overview of the Euro Crisis – NYT Sunday Review (Interactive Graphic)
Paradigm Lost – Mapping The Crisis – carnegieendowment.org
Image: via infographicsinsights.com
Q&A: Greek debt crisis – BBC News round up of the Late 2011 economic crisis in Greece, and how it impacts on the Eurozone
Beware of falling masonry – article by the Economist (26th November 2011):
The crisis in the euro area is turning into a panic and dragging the zone into recession. The risk that the currency disintegrates within weeks is alarmingly high
Is this really the end? – article by the Economist (26th November 2011):
EVEN as the euro zone hurtles towards a crash, most people are assuming that, in the end, European leaders will do whatever it takes to save the single currency. That is because the consequences of the euro’s destruction are so catastrophic that no sensible policymaker could stand by and let it happen.
Eurozone crisis: Terms explained – The Telegraph defines some of the buzz words which frequently appear in current media analysis of the Eurozone crisis.
Are you struggling to understand your credit default swaps and your buybacks? Here are some of the terms used to discuss the eurozone debt crisis
An interpretation of possible outcomes of Greek debt (as at 26th October 2011):
Source: http://www.el-baghdadi.com
Further reading:
More useful updates can be found at these sites:
http://www.bbc.co.uk/news/special_reports/global_economy/
http://www.scoop.it/t/eurozone
http://www.guardian.co.uk/business/debt-crisis
http://www.economist.com/node/21524378
Trading Blocs
Nov 10th
IBO 2005-2012 Syllabus Requirements:
Trading blocs
• Free trade areas (FTAs)
• Customs unions
• Common markets
Higher level extension topics
• Trade creation and trade diversionObstacles to achieving integration
• reluctance to surrender political sovereignty
• reluctance to surrender economic sovereignty
Introduction to Trading Blocs
Episode 38: Trade Blocs by mjmfoodie
Perhaps a simpler introduction is here:
Trading Blocs by LanternaEducation
A more discursive explanation by student CuteChadz …
A2 Economics: Trade Blocs by CuteChadz
Trade Creation and Trade Diversion
Towards the end of the previous video, there was reference to trade creation and trade diversion, although the explanation was quite simple. You can get more depth out of these two effects of economic integration (the formation of trade blocs). The following two websites are recommended for reading up on these two topics:
http://tutor2u.net/economics/revision-notes/a2-macro-trade-agreements.html
http://www.revisionguru.co.uk/economics/creatdiver.htm
Obstacles to Achieving Integration
Finally, for brief but useful discussion of the obstacles to achieving integration, and summary of some of the above, visit this site:
http://centralecon.wikia.com/wiki/Economic_Integration