Angela Merkel is the most powerful woman this year. She is the de facto leader of European Union. European Union consists of twenty-eight countries. Their economy is interdependent. Most of the countries share the same currency. Europe is facing crisis, and Angela Merkel acts like a mother to the European Union.
Angela Merkel is convinced that Europe is far from over in abolishing their crisis, but she is determined to lessen it. In an article written by John Vinocur, it states that she likes small but sure plans than taking big, legible plans. She handled to defend the Europe’s most vulnerable economy from default by laying 420 billion euro on the European table. She has solid devotion to Europe, and she urges for structural reform in southern Europe. She once said, “I experienced the collapse of the German Democratic Republic, I don’t want to see the EU falling behind.” She encourages France, Spain, Portugal and Greece to reform as fast as they can because she said, “we have to be careful that solidarity also leads to results, lest we all get weak together.”
Euro is the currency of seventeen out of twenty-eight EU countries. It’s the most solid testimony of European incorporations. A single currency presents advantages, for instance, reducing fluctuating exchange rates and exchange costs. The economy expands and customers have more options since it is easier for businesses to perform cross-border trade. The euro gives the EU more influence, as it is the second most important currency after the US dollar.
When the great recession started in the United States, Europe was not spared. Currently, hardships are still around the continent. Early this February 2013, the European Commission has agreed in its most recent prediction that euro zone recession will continue into 2013. Unemployment across the single currency countries projected to keep on rising from 11.4% to 12.2% this year as the recession remains as stated by Commission...