- Words: 2814
- Length: 9 Pages
- Topic: Economics
- Paper #: 72094081
It is believed by some observers that the banking system needs to be scaled back, as it had become too large over the past decade (Brennan & Doyle, 2010). The country has also cut back its government spending in an effort to assuage markets, but the markets viewed the austerity measures are harming the country's chance to rebuild its economy, so the austerity measures failed.
Ultimately, the overheated asset prices