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Quick Analysis On The Euro Crisis

quick analysis

In the year 1992, a single currency for all European Union Counties, the Euro was conceived as a concept. During 2002, 19 out of the 28 member countries in the EU started using Euro as their official currency. The main reason for adapting to this currency is for economic prosperity and political union. However, for the past ten years, Euro has suffered a severe debt crisis, stagnant economy resulting in people losing their jobs. This has resulted in more disharmony and issues in many countries.


One of the new principles was that markets will achieve new employment strategies and efficient methods if governments could allow them to. One of the main roles of a government structure is to come up with measures that can fight against inflation and maintain a balanced budget. The EU membership places restrictions on the deficits and debts for the government as well.

Money rushed into countries like Spain resulting in inflation and increased prices. Germany managed to correct the situation by bringing down the prices. Germany did not increase the prices and deflation is very difficult to deal with than inflation. Whenever money is borrowed, they have to pay it back more in the Euro currency. This caused furthermore disturbances that were difficult to handle.


Countries having trade surplus should take strong actions to inflate the economy at the part with weaker countries. Surplus countries will impose charges on weaker countries. Trade deficits also cause problems. To fix this, the surplus countries must reduce their prices in line with the weaker countries they are trading with.

If one country started looking at an exit referendum similar to that of Brexit, markets will respond with more capital flight than it is right now. This will result in a huge banking crisis. The political and economic effect this will have will be very complex to deal with.

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Three Day Weekend: Blessing In Disguise


All of enjoy the long weekend that comes with a bank holiday. The three-day weekend means more time to do things we love, more time to be with family and more time go out with friends etc. It is very relaxing from the stressful weekdays. Just think if instead of being once in a while, if the weekends could come every week. Apart from leisure and relaxing activities, three-day weekends are also one of the steps for reducing stress, improve our economy and save energy for future.

Lesser working hours means less energy consumption. It is estimated that by adopting European style of working hours, we could reduce up to 20 percent in carbon emissions. When the US State Utah refined their working days with an extra hour from Monday to Thursday, they saved more than 1.3 million pounds.

Less working means lesser need to use office space, less lighting, less use of air conditioning facility and less time spent working on computers and no need to keep the computers working means less electricity as well. People also save on time it takes to commute from office home and vice versa. Therefore, by cutting down all this, we can save our environment.

weekend1Other societal impacts could be that people can spend more time with their families and other social activities. Taking care if children or elders and participating in social activities will also increase. In an experiment that was conducted in Sweden during the year 2015, it was observed that fewer work hours reduced sickness and boosted the productivity.

Instead of working more hours, companies should look at working lesser hours with improved productivity and more free time will certainly create a better environment and a safe world in future.

These changes might not happen overnight. Next time you have an extra day off, think about how you are contributing to the environment as well. A day off does not only mean more time with family but less carbon footprint too.

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Pipelines Inspections: Putting Safety First


Pipeline companies have an important job at hand. They are responsible for classifying pipelines based on the risk factors involved. It’s not always right. Sometimes they do classify a high-risk pipeline as having no risk also. A similar issue happened with a natural gas pipeline. Instead of classifying it as high-risk, they decided not to do so. The pipeline was running under a suburban neighborhood and it was very old. This saved a lot of money for the company as they need to do their expensive inspections on these lines.

During September 2010, this pipeline exploded and the resulting flames rose up to 1,000 feet. The fire spread around the neighborhood and affected about 38 homes. The death toll was eight and 58 people were seriously injured. Although a case as filed against the inspection company and they were found guilty, nothing is ever going to bring back the lives that were lost.

These companies should keep in mind that they are putting safety at stake for the sake of reaping profits. These inspections must be carried out properly especially in areas that are occupied with houses.

Two years ago, a similar incident happened in Wilmington where are pipeline burst sending thousands of gallons of oil into their residence. Although there was no death involved, it still affected the lives of people living in that area. The person who owned the pipeline assumed that it was empty but, the oil kept seeping through the walls of the pipe.

Incidents like these serve as reminders as to how careful the inspection company must work and what kind of regulations are required to monitor their work. The regulations for pipeline monitoring were revised recently and just revising the regulations is not enough. The work that is done by the pipeline companies must the monitored to ensure that the regulations are followed.

One must never let a company decide on the fate of public as they always put their profit first. We need to have an independent third party that can keep the public in mind and work to make sure that the regulations are met satisfactorily. This is the only way to make sure that no one gets affected due to similar situations in future.