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Khủng hoảng tài chính công ở EU, THE EU’s PUBLIC FINANCE CRISIS, International Finance, những nguyên nhân, kết quả của cuộc khủng hoảng tài chính công ở EU, những ảnh hưởng của nó lên việt nam và thế giới, bài học kinh nghiệm cho Viet Nam
THE EU’s PUBLIC FINANCE CRISIS Group 10: Trần Nhật Minh Phương Trần Thị Huyền International Finance Lecturer: Đỗ Thị Hồng Hà Company Logowww.themegallery.com Contents The lesson for Vietnam Consequences of the crisis The Landmarks of Crisis Causes of the crisis The definitions Public expenditure Public revenue Public debt Financial administration Federal finance The defination of Public Finance A general term encompassing both the spending by government and the methods used to pay for that spending, especially taxation and borrowing. The subject matter of public finance. Public debt is defined as how much a country owes to lenders outside of itself In the short run, public debt is a good way for countries The tendency of government The defination of Public Debt Causes of crisis It proceeds from Greek Internal Causes The problem financial institutions and operating economy of European countries The pressure of financial oligarchy Greek government mistakes in management and they was dishonest in notification of economic data for years. Too large expenditure => high budget deficit and public debt crisis It proceeds from Greek The Monetary policy does not go along with the tax reform policy. EU and European central banks respond slowly to the crisis Government measures only focused on reducing the budget deficit => The increase of risk. The problem financial institutions and operating economy of European countries European countries's governments have spent billions of euros to support banks and stabilize the economy => increase in public debt. Private banks receiving money at an interest rate of 1% from central banks to buy government debt with return rate 4% or 5% The pressure of financial oligarchy Causes of crisis Campaign to weaken Euro. external causes The risk of bonds Causes of crisis In summary, The crisis of European sovereign debt stems from many causes both inside and outside. Conspiracy and intent of the financial oligarchy put pressure on financial markets to hedge short-term profit. It makes the increased public debt and financial instability. This situation is affecting the economies of Europe and the whole world. [...]... , the Greek government says it wants to reduce the budget deficit to 2.8 % of GDP in 2012 The Landmarks of Crisis 29/1/2010 Spanish government announced plans to save 50 billion euros to 70 billion dollars in spending that reduce the total amount corresponding to 4 % of GDP Wages in the public sector decreased by 4 % 11/4/2010 Finance Ministers of the euro area countries in Europe approved general... the rescue 2/5/2010 Greek prime minister said the government had reached an agreement with the EU and IMF rescue package about €750 billion 9/5/2010 IMF approval before unilateral partial rescue plan , providing 5.5 billion euros immediately The Landmarks of Crisis 18/05/2010 The German government , in an effort to prevent speculative financial activity are considered as causes of the debt crisis. . .The Landmarks of Crisis 11/2009, Greece 's new government make the world a concussion with the declaration that doubled estimates of the budget deficit in 2009 22/12/2009 Moody's downgrades Greek debt to A2 from A1 by a budget deficit of this country rise This is the 3rd agency downgraded Greece's credit rating 14/1/2010 Greek government announced plans to stabilize , the Greek government... regulations apply recruitment and firing loose even without the support of labor unions IMPACT OF CRISIS TO EUROPEAN & THE WORLD Hurt EURO currency Crisis enveloping black shadow on recover the world economic Gold prices rise sharply Large enterprises announced losses continuously The unemployment rise Many banks closed IMPACT OF CRISIS TO VIETNAM Difficult export drag GDP decrease 1,7%... austerity plans of the government 7/6/2010 Merkel 's party approved austerity plan and accomplish goals duty to bring Germany's budget deficit to levels prescribed by the European Union in the period from now to 2013 8/6/2010 The Spanish group announced 75% of workers in the field striked to express opposition to plans to tighten government spending 9/6/2010 austerity plan discussed in the party elections... with the aim to bring the budget deficit to 2.7 % of GDP from 5.3 % in , 2009 27/05/2010 Spanish Parliament approved austerity plan to save 15 billion euros, equivalent to U.S $ 18.4 billion 28/05/2010 Fitch lowered the credit rating of Spain from AAA to AA + by consumer and business debt in this country climbed too high , not to mention that public debt is at an alarming rate The Landmarks of Crisis. .. investment Insurance credit risk (CDS) tended to increase Increased foreign exchange risk and fluctuate exchange rate at the end of the year The lessons for Vietnam Seriously review my debt reality Strict management of public debt Should consider where borrow is and how to get the most benefit Every tub must stand on its own bottom Use efficiency investment Thank You ! . of the crisis The Landmarks of Crisis Causes of the crisis The definitions Public expenditure Public revenue Public debt Financial administration Federal finance The defination of Public Finance. THE EU’s PUBLIC FINANCE CRISIS Group 10: Trần Nhật Minh Phương Trần Thị Huyền International Finance Lecturer: Đỗ Thị Hồng Hà Company Logowww.themegallery.com Contents The lesson for. itself In the short run, public debt is a good way for countries The tendency of government The defination of Public Debt Causes of crisis It proceeds from Greek Internal Causes The problem