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The Analysis Of The Specific Factors And The Economic Crisis 2007 €“ 2012 Years In The Euro Zone As An Example Of Pigs

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  • A. S. Alyamovskaya
  • V. D. Krylov

Abstract

This article calls attention to an analysis of the Eurozone's economic crisis prerequisites and the ways out from it. In fact, Eurozone is an extremely heterogeneous formation, where despite the single currency; every country has different credit characteristics. The economic situation in the PIGS-countries (Portugal, Italy, Greece and Spain) is considered in the article, laying an emphasis on Greece as the main representative of high risk default.To our opinion, the main factor of the crisis is the lack of new innovative industries that require tremendous investments (some trillion dollars). The excess supply of money is not invested in the real sector, but is accumulated in the financial markets, increasing the nominal value of any assets. Financial discipline is the second mail factor in developing of the crisis.

Suggested Citation

  • A. S. Alyamovskaya & V. D. Krylov, 2015. "The Analysis Of The Specific Factors And The Economic Crisis 2007 €“ 2012 Years In The Euro Zone As An Example Of Pigs," Russian Journal of Industrial Economics, MISIS, issue 1.
    • Handle: RePEc:ach:journl:y:2015:id:1
    DOI: 10.17073/2072-1633-2013-1-3-9
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