Ekaterina Blinova — The Eurozone risks falling into a deflationary spiral with decreasing prices and wages and growing unemployment rates; while some experts blast the EU's periphery countries for corruption and money waste, others point the finger at Germany, claiming that its irresponsible policies are currently threatening the euro.
According to Eurostat, a statistical office of the European Union, euro area annual inflation reached —0.6 percent in January 2015 down from —0.2 percent in December 2014. The Eurozone is facing negative inflation rates due to the fall in energy prices. Experts note that the trend is rather dangerous, since the low inflation environment is causing further economic slowdown: consumers are not motivated to spend more while businesses see no reason to increase production while its goods are getting cheaper.
Meanwhile unemployment rates are rising steadily in the Eurozone periphery: while the lowest unemployment rates were typically registered in Germany and Austria (about 5 percent), the highest were recorded in Greece and Spain (more than 20 percent) in the last two years.
Although experts point out the necessity of structural reforms in such debt-laden countries as Greece, hit by internal financial crisis, they also accuse Germany, the flagmship of the European Union for its irresponsible financial policies labeling it as "the biggest serial defaulter" of the twentieth century. Experts note that the European Central Bank (ECB) measures of keeping interest rates at low levels for long periods facilitated Germany's economy growth but at the same time triggered widespread asset price inflation in EU's periphery. Furthermore, they emphasize that German financial organization took part in creating numerous property bubbles in the Eurozone, particularly in Spain and in Ireland.
In the light of the ongoing economic slowdown in the Eurozone, threatening to push the EU toward the new round of the financial crisis, Eurosceptic parties as well as right-wing conservatives called upon the nations to leave the Eurozone. Remarkably, they have recently gained extraordinary popular support across the European Union.
While Germany and other wealthy member states are trying to convince the countries to team up and work together for the sake of Europe's prosperity, Greece has thrown a challenge to Brussels claiming it will leave the EU. Economic analysts underscore that Greece's "bold" move may trigger a domino effect, encouraging other countries struck by the financial difficulties, for instance, Portugal, Spain and Italy to flee the Eurozone. Thus far, the European Union is facing a painful dilemma, whether to write down Greece's debt (as well as debts of other member states suffering from austerity measures), in accordance with Greek party Syriza's demands, or to watch the gradual dismantling of the Eurozone and the euro fading.
The fact of registration and authorization of users on Sputnik websites via users’ account or accounts on social networks indicates acceptance of these rules.
Users are obliged abide by national and international laws. Users are obliged to speak respectfully to the other participants in the discussion, readers and individuals referenced in the posts.
The websites’ administration has the right to delete comments made in languages other than the language of the majority of the websites’ content.
In all language versions of the sputniknews.com websites any comments posted can be edited.
A user comment will be deleted if it:
does not correspond with the subject of the post;
promotes hatred and discrimination on racial, ethnic, sexual, religious or social basis or violates the rights of minorities;
violates the rights of minors, causing them harm in any form, including moral damage;
contains ideas of extremist nature or calls for other illegal activities;
contains insults, threats to other users, individuals or specific organizations, denigrates dignity or undermines business reputations;
contains insults or messages expressing disrespect to Sputnik;
violates privacy, distributes personal data of third parties without their consent or violates privacy of correspondence;
describes or references scenes of violence, cruelty to animals;
contains information about methods of suicide, incites to commit suicide;
pursues commercial objectives, contains improper advertising, unlawful political advertisement or links to other online resources containing such information;
promotes products or services of third parties without proper authorization;
contains offensive language or profanity and its derivatives, as well as hints of the use of lexical items falling within this definition;
contains spam, advertises spamming, mass mailing services and promotes get-rich-quick schemes;
promotes the use of narcotic / psychotropic substances, provides information on their production and use;
contains links to viruses and malicious software;
is part of an organized action involving large volumes of comments with identical or similar content ("flash mob");
“floods” the discussion thread with a large number of incoherent or irrelevant messages;
violates etiquette, exhibiting any form of aggressive, humiliating or abusive behavior ("trolling");
doesn’t follow standard rules of the English language, for example, is typed fully or mostly in capital letters or isn’t broken down into sentences.
The administration has the right to block a user’s access to the page or delete a user’s account without notice if the user is in violation of these rules or if behavior indicating said violation is detected.