CONCERN IN EUROPEAN UNION

Which has been the European Approach ? Concretely, what has the European Union done?

CONCERN IN EUROPEAN UNION

In spite of the effort of the European Union delivered to try to minimize the effects that the present crisis is generating, the fluctuations of the Stock Exchange even continue, generating preoccupation between the investors, creating an effect of withdrawal of money, and with this fall of the most important Stock Exchanges of the world.

About the previous paragraph, the European Union in their _ the last Friday 17^th of October, where were the 27 presidents of each Member State, reached that the best strategy is to be united to face the crisis that they are crossing, and with this, they want to minimize the crisis effect in the short term.

The action to take from here on as the summit has been collecting money to finance to banks and thus prevent any bankruptcy, which would also be applied to industries, leading to ensure the salary of the average worker.

The European Union it´s really worried about this financial crisis, so is that worried that the president of France, Nicolas Sarkozy with the head of the European Commission have decided to meet with the president George Bush, and talk about the situation. Also, the European Union not only wants to meet with George Bush to talk about that, they also want to make pressure over USA to re-create the financial Capitalism, before the present time finalizes because of the existing collapse.

According to the Sarkozy affirmation, Europe always was tired about the economic model that was being used, generating that the investors were less adverse to the risk that sooner or later would generate a collapse like this.

It is to emphasize that for businessmen is very important to the decisions of the European Union, because it is a bloc Economic very important for the world, in addition to USA.

One can conclude that the economic situation by which the world is experiencing today is very difficult, and in order to confront the G8 member countries which are EU members should make decisions that will help the whole world, to decrease thus the gap that now exists between rich countries and emerging countries.

Cristian David Benavides Daza