European Immigration Policies And The Economic Crisis

European Immigration Policies and the Economic Crisis The Eurozone economic crisis began at the end of 2009. Essentially, the failure of the Euro caused huge problems in southern European countries (such as Spain, Portugal, Greece, and Italy). After the introduction of the Euro, these countries suddenly had the credit to borrow money like they hadn’t had before. They extravagantly increased spending with this borrowed money, which at first boosted the economy but eventually led to massive debts. Since every economy was intertwined, the rest of the Eurozone was effected as well. Because everyone had been borrowing and lending money to each other, a problem in one country could reverberate across the continent, creating a chain reaction of defaults. Germany agreed to bailout these smaller countries, effectively picking up the tab, as long as they agreed to very strict austerity measures. The contrasting expectations between a financially responsible country like Germany and one that doesn’t pay taxes such as Greece amplified tensions. Cultural differences such as this are surprisingly relevant to the economic crisis, as the disparities in immigration policy demonstrate. ITALY Italy, despite its long history as a collection of territories, is one of the newest European countries (founded in 1861). As such, it was never a big powerhouse for incoming immigration, even pre-recession. The government never had an established model for integration or pluralism, and was not evenShow MoreRelatedGlobalization And The European Union1685 Words   |  7 Pageswere made prevalent with the European Union. The main drawback within the European Union was its economy. If one country within the organization were to have economic crisis then that country would affect all other country members. This was made clear in 2010 with the economic crisis presented in Greece. 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