EU Development Predicaments

The massive debt of the EU member countries, the short sales of Wall Street, and intensifying media hype have resulted in the continued spread of the European sovereign debt crisis, a crisis that in fact stems from the EU’s structural imbalance, an over-burdened high-welfare system, and political disunity among member countries of the EU. It is as yet uncertain whether those reforms implemented by the EU may be able to help ease the crisis as anticipated, but there is no doubt that the development trend of the EU has suffered a setback.