Solving Eurozone Financial Crisis Essay Example | Topics and Well Written Essays - 250 words - 1

Solving Eurozone Financial Crisis - Essay Example For Buruma to suggest a political solution is a wild unrealistic dream since European region is synonymous with self-centered political and democratic interests. Indeed, a flashback on causes of World War 1 and World War 2 had the strong political correlation that has since then made states more cautious on interstate politics and democracy issues. Zakaria, on the other hand, suggests a workable financial solution to Greek’s financial nightmare. Bailouts and financial restructuring have not worked so far largely because they have not provided favorable economic growth for Greece. Greece and Italy crisis is not just a problem of respective countries but a financially cancerous disease for entire Europe. Europe can only resuscitate Greece’s economy by enabling Greece to attract capital and investments whilst keeping wage bill within manageable limits. The moment Greece starts recording positive economic growth, recovery will be guaranteed. This approach is highly likely t o succeed since it does not require dramatic political and democratic restructuring of entire Europe zone. In simple terms, it is better to show Greece â€Å"how to fish† instead of â€Å"lending them a fish† every time they are hungry.