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International Business Essay
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Excerpt from Essay:
International Business Essay
......Weaknesses:
While attention has been primarily of late upon Greece, they are not the only countries with weak economies. Clearly, the worst weaklings in the EU Single Market are represented by the countries that make up the PIGS-a name coined to describe Portugal, Ireland (Italy at times) Greece and Spain. In essence, this seeming rogues gallery of weak economies would on the surface at least represent a clear and present danger to the health of the business climate of the EU. If Greece were the only country in need of a bail out, it would be kicked out of the market. Instead, by asking for help, it is putting the EU leadership in a bind. If the EU helps out Greece, then countries such as Portugal and Spain with economies only slightly stronger could also demand similar help
On Feb. 10, 2010, EU officials seemed to be coming up with a compromise plan. However, the harsh terms could keep the PIGS away from the trough, so to speak. Germany and France, whose economies were much stronger, resent giving help under easy conditions and have maintained that the terms to help Greece have to be under tough preconditions as described by
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