The Mythology Of The Iliad - 1277 Words

In The Iliad, the Olympian Gods were depicted as a group of individuals who were still completely vulnerable to mistake and harm despite their great power. Zeus was one, if not the biggest and most powerful God among all other Gods. Known as the King of the Gods, Zeus was a mighty, dominant, and seemingly supreme God, despite his tendency to show surprising silliness and sometimes, the lack of wisdom through his choices, especially when it came to love affairs, which eventually led to many problems that could have been prevented. Zeus, in The Iliad, Zeus is a representation of how ancient Gods were just normal humans equipped with a great degree of power and capabilities, but they have the tendency to show humanly behavior and mistakes. In the Homer’s Iliad, Gods are very susceptible to human desire. At some point, Gods can act more â€Å"human† than actual humans would act. They would think, act, speak, and do other things just like a human being. The only thing that s eems to differ Gods and human is their immortality, power and authority over things. Compared to the gods found in Abrahamic religions, Greek Gods base their decisions and action without principle but feelings and their personal opinion. Greek God are known to be capricious, prone to arguments over insignificant things, showing a very close relationship with human behavior. These characteristics of Greek Gods are probably generated due to the lack of need to thrive and survive since they are immortal andShow MoreRelatedGreek Mythology And Mythology Of The Iliad, Oedipus Rex And Others1294 Words   |  6 Pagesbeen shaped by mythology and religion. The impacts of ancient cultures in particular are felt worldwide through a variety of mediums. Others have referenced ancient cultures for a long time, in hopes of better understanding them. Examples of this have been seen throughout the world, especially in Greek culture. The ancient Greeks had a rich culture, which they used often in t heir works; examples of this are seen in the Iliad, Oedipus Rex and others. The existence of Greek mythology and narrativesRead MoreGreek Mythology : The Epic Tale The Iliad1179 Words   |  5 PagesGreek mythology played a large role in Greek artistic styles and functions. In the case of this study, the mythological god Apollo is the subject of the artistic works of the votive known as the â€Å"Mantiklos Apollo† and the statue of â€Å"Apollo† that was found in Pireaus. These figures show a natural progression in style and technique. They are important because they represent the sacred beliefs and superstitions of their respective cultures and time periods. The two stylistic periods represented inRead MoreConflict Within The Mythology Of The Iliad By Homer946 Words   |  4 Pageswith emotion and struggle between the forces as they try to combat each other through various means. There are many catalysts to these struggles that range from internal conflict to that of external conflicts. One case of this is explored within The Iliad by Homer. Written within the Bronze Age, it depicts the events that took place during the Trojan War between 1194- 1184 BC. This war is initiated by the Judgement of Paris, which was ultimately won by the .within the Rage of Achilles, detailing theRead MoreGreek Mythology By Homer s Odyssey, Iliad And Hesiod s Theogony2522 Words   |  11 PagesGreek mythology as it exists today was a culmination of oral tradition that was part of the early Greek civilization. Different regions of the Greek empire had different heroes with their own traditions, and thus Greek mythology was firmly tied to it geographical loca tion. Geography and physical places helped shape Greek mythology to a large extent. Homer’s Odyssey, Iliad and Hesiod’s Theogony are examples of Greek mythology where the myth is tied with the geographical space. With the mention ofRead MoreHelpless Mothers: Ceres and Andromache981 Words   |  4 Pagesboth the Iliad and in Ceres and Proserpina is the role of women in Greek and Roman mythology. To read the history of Ancient Greece as it has been written for centuries is to enter a thoroughly male world (Blundell, 226). When it comes to a poem like the Iliad, this is even more particularly true as the reader enters a universe of war, where women are very much on the peripheral and the men are the dominant characters directly implied in the bulk of the action (Blundell, 47). The Iliad is a poemRead MoreGreek Mythology And The Mythology850 Words   |  4 Pagesmedicine, and a multitude of others. The mythology of these two cultures is exceedingly similar, although for those looking for a more interesting view on the subject, Greek mythology is far superior to Roman mythology. The time period in which mythological tales were told began over one hundred years ago in 19 BC for the Romans through the epic Aeneid; however, Greek mythology has existed longer. There is no specific evidence proving when Greek mythology actually began; Greek myths are chronicledRead MoreThe Iliad And The Odyssey977 Words   |  4 Pagesthemes in the majority of Ancient Greek mythology is the act of divine intervention. In Greece during ancient times the polytheism of the people played a very large part in each aspect of their daily lives, so it was only natural for them to be included in their mythology. There is not a single Greek myth in history that does not contain some mention of at the very least a single god who played a part in the tale. In one way or another, gods within mythology affect the characters of the myths, theRead MoreMorality In Hesiod And Homers Theogony And The Iliad763 Words   |  4 PagesIn ancient Greece, the two poets Hesiod and Homer wrote dramati c stories outlining the nature of the Greek gods with their main works Theogony and The Iliad. They each offer descriptions of order, morality, and justice in the world, but there is a stark difference between each author’s work; Homer’s mythology features much more authoritative deities than Hesiod’s, ultimately establishing a more political, absolutist social order. The gods’ interactions with each other and with the human world areRead MoreThe Greeks and The Illiad Essay examples1378 Words   |  6 PagesThe Greeks and The Illiad The Iliad was a masterpiece of a work, which entertained and gave a description of how the Greeks lived out their lives in battle and at peace. The Iliad, by Homer, is an epic classic set in Ancient Greece. The story ,in its own, contained the use of epic characteristics, which reveal further characteristics of the Greeks. A large influence on the book, was the Greeks religious and mythological stance along with their strengths and weaknesses that were alsoRead MoreEssay on The Impact of Women in The Iliad579 Words   |  3 Pagesthe decisions that Franklin D. Roosevelt made. Women of Homers epic, The Iliad, were considered primary instigators of the Trojan war. The characteristics attributed to women in ancient Greek mythology may have been key to the outbreak of the war. But many ask why Homer would choose to reflect so deeply on the feminine roles of this war fought by men. Although the beginning of the war was not spoken of in The Iliad, the origin of the war is traced back to jealous goddesses. The gods and goddesses

Animal Endangerment And Extinction Of Habitat - 925 Words

I. Animal Endangerment/Extinction II. Abused/Abandoned Animals III. Over Farming/Land Misuse IV. Environmental Pollution V. Deforestation I. Animal Endangerment/Extinction A. Destruction of Habitat B. Pollution C. Hunting and Fishing II. Abused/Abandoned Animals A. Confined, Major Culprit Climate Change B. Huge Amounts of Manure, Pollutes Soil C. Dead Animals, Pollutes the quality of life for individuals who live close. III. Over Farmed/Land Misuse A. Soil Erosion B. Land Degradation C. Genetic Erosion IV. Environmental Pollution A. Grave and Irreparable Damage B. Air Pollution C. Water, Soil, Noise, Light V. Deforestation A. Permanent Destruction of Forest B. Damage to the quality of Land C. Excessive Devastation/Clearing I. Animal Endangerment/Extinction A. Destruction of Habitat/Effects on the environment 1. Animals are endangered and becoming extinct, because humans have no regards for the natural habitat that animals need to survive, less causing animal death which pollutes soil. 2. Animals are used in environmental enrichment strategies, and wildlife research, etc. B. Pollution 1. The presence or introduction into the environment of a substance, or thing that has harmful or poisonous effects. 2. Pollution effects, Environmental pollution has been a fact of life for many years/centuries, but it became a real problem since the state of the industrial revolution. C. Hunting and Fishing/Effects on the Environment 1. Hunting effects many things,Show MoreRelatedWhat Causes Mammals To Be Extinct?1098 Words   |  4 Pagesthe world, there are many factors that cause mammals to become extinct. Climate change is a common factor in what causes mammals to become endangered and later extinct. Climate change mostly caused extinction for two out of every three large mammals in the world. Some mammals that went into extinction because of global warming were: Mammoths, Arabian gazelle, Bulldog rat Central rock rat, Columbian hutia, Corozal rat, Corsican shrew, Cuban spider monkey, Curacao sloth, Dark flying fox, Darling DownsRead MoreThe Extinction, Endangerment, And Captivity Of Endangered Species1540 Words   |  7 Pagesabout the extinction, endangerment, and captivity of endangered species? That is the pressing question that seems to bug all environmentalists and scientists are stressing over, how long will it take for all of your animals to die out? And is it something we can stop or at least contain meanwhile we are trying to find the long-term solution for. Can we prevent this from happening all together? Or is it far too late to save our species that are dying out? We should worry about the extinction, endangermentRead MoreEssay on Wildlife Endangerment Due to Human Intervention in Nature1624 Words   |  7 PagesWildlife Endangerment Due to Human Intervention in Nature The driving force behind today’s alarming decline in species is the destruction, degradation and fragmentation of habitat due to our increasing human population and wasteful consumption of resources.1 Everyday wildlife is forced to seek refuge in very remote, small areas. As the human population increases, land that was once inhabited by wildlife is urbanized to suit human needs. In other words, the land available for wildlife to surviveRead MoreThe Factors That Play Into Endangered Species2685 Words   |  11 Pageseven the plants blooming in the spring? Now, more than ever, a lot of species are being exposed to endangerment. Right about now, scientists emphasize â€Å"forty-one thousand, four hundred and fifteen species are on the IUCN Red list (ARkive.org). The Red list is the world’s inventory of the global status of biological species sixteen thousand, three hundred and six of species are threatened with extinction(iucnredlist.org). A species goes extinct if it is not able to adapt to changes in its environmentRead MoreEndangered Animals Are Endangered Species1178 Words   |  5 PagesEvery year Florida’s wildlife animal numbers decrease at an alarming rate. Endangered animals exist all over the world, but Florida’s official state animal is one of the most endangered animals in the entire world. The main reason some animals become declared as endangered is humans. Humans have caused a huge toll on the wildlife’s lifespan and have become a burden in their natural way of living. It is how the human population behaves that decides whether these animals can live a normal life or pushesRead MoreEndangered Tigers : The Threats Of Endangered Tigers824 Words   |  4 Pagesthen the next day theyre gone. If tigers endangerment stays the same, with nobody willing to help out, this could be very plausible Tigers are facing endangerment at an extreme level. This endangerment is caused by poaching, humans killing tigers for tradi ng and using their body parts, habitat loss and captivity. If something didn’t happen to save tigers, not too long in the future kids growing up wouldn’t know what a tiger is because of its extinction. There are multiple different types ofRead MoreAnimal Testing and Hunting: Stopping the Slaughter Essay766 Words   |  4 Pages We, as humans, mistreat the animal population. On a smaller scale, the human population wastes domestic and wild, animals for medical testing, for their fur, and for entertainment such as dog fighting. These things may not seem to be globally threatening, yet the constant waste of certain species of animals and the destruction of an animals natural habitat will lead to the endangerment and eventually the extinction of the species. Furthermore, many people are unaware that the world is currentlyRead MoreThe Conservation, Rehabilitation, And Release1358 Words   |  6 Pagesthey sexually mature? Everyday, non-human primates are being taken out of their wild habitat, illegally exported in horrible conditions, and breed in captivity; these are wild animals and cannot be domesticated. Conservation, rehabilitation, and release are key to the reconstruction of these endangered non-human primates and everything they know. The main cause for most primate problems is that their habitats are rapidly declining and eliminated entirely. All non-human primates are categorizedRead MoreThe Species Of Endangered Species1474 Words   |  6 PagesDid you know that the endangerment or eventual extinction of a species causes the endangerment and extinction of other life forms, eventually leading to a negative impact on human well-being? Currently, the endangered species list includes 16,306 species that are endangered and at risk of extinction, and 785 species have already gone extinct (Kasnoff). On the list of endangered species is the adorable sea otter. Sea otters are not only cute, but they play an extremely important role in the ecologicalRead MoreWhat Is An Endangered Species?1967 Words   |  8 Pages An Endangered Species is defined as â€Å"a species at risk of extinction because of human activity, changes in climate, and/or changes in predator-prey ratios† (Dictionary.com). The U.S. Fish and Wildlife Services (USFWS) has the responsibility of keeping the records of all endangered species. In order to be recognized as an endangered species, the following questions must be answered: â€Å"Has a large percentage of the species vital habitat been degraded or destroyed? Has the species been over-consumed

Phylogenetic Classification Systems †Free Samples for Students

Question: Discuss About the Phylogenetic Classification Systems? Answer: Introducation The earlier taxonomic and phylogenetic classification systems were based on morphology. As the science of microscopy developed and it became possible to study the cellular structure, classification of organisms was based on the differences in cell structure. With the advent of ability to sequence DNA and RNA, it became possible to compare the sequences. This led to the ability to distinguish between organisms on the basis of dissimilarities between the sequences. The three tax domains as per the current system of classification are eubacteria and archaeabacteria, both prokaryotic and the eukaryotes. Prokaryotes and eukaryotes were earlier differentiated on the basis of cellular morphology. The absence or presence of nucleus was the main structure that differentiated them. Carl Woese suggested that the classification should be based on the 16S rRNA or 18S rRNA sequences rather than on morphological differences (Woese, Kandler, Wheelis, 1990). The basis for earlier methods for classification was organism based, it was later based on cellular Management and is now based on differences at the molecular level. As a result phylogeny is now understood on a molecular basis rather than a phenotypic basis. The basis for description of eukaryotes appeared to be based on the shared complexity of cellular organisation. But the same was not true for prokaryotes, the differences amongst the organisms could not be phylogenetically described just because these cells did not contain a nucleus. This was revealed when it was discovered that the archaeabacteria are as different from bacteria as the y are different from the eukaryotes and thus three domains were proposed, namely, eubacteria, archaeabacteria and the eukaryotes. The archaeabacteria that were studied later are methanogenic, thermophilic and tolerant to high salt concentrations, conditions that were prevalent on earth in ancient times. All organisms have DNA and the genes are expressed through protein synthesis. Ribosomes are the sites for protein synthesis and rRNA molecules are components of ribosomes. The rRNA molecules are also encoded by DNA. Mutations have occurred in the rRNA genes during evolution. The reason why rRNA was suited to be the molecule of choice for molecular phylogeny was because it was present in all organisms and the mutations that occurred in the molecule were such that they allowed the formation of ribosomes. Any mutation that could have disrupted the formation of ribosomes was eliminated through natural selection. rRNA can be easily isolated in the laboratory and comparison of rRNA sequences from two organisms can help determine how closely (or distantly) they are related on an evolutionary time scale. The rRNA molecules fold into secondary and tertiary structures due to complementary base sequences. The tertiary structure of rRNA exhibits differences between eubacteria, archaebacteria and eukaryotes. The small subunit rRNA in the eubacteria is different from the archaebacteria and eukaryotes between bases 500 to 545 that form the bulge that protrudes from the stalk in the tertiary structure. It is 6 nucleotides long in the former while the bulge is made up of seven nucleotides in the latter, the compositions of the nucleotide stretches are also different in eubacteria. The region of small subunit rRNA in eukaryotes has a sequence between nucleotides 585 and 655 which is peculiar to the domain (Gutell, Weiser, Woese, Noller, 1985). The prokaryotes have a different but common structure in the corresponding region. The archaebacteria have a unique domain in their 16S rRNA between 180-197 positions and between 405 and 498 positions (Woese, Gutell, Gupta, Noller, 1983). A comparison of the three domains yields similarities between the eubacteria and the archaeabacteria but more similarities occur between the archaeans and the eukaryotes. The nuclear membrane and unit-membrane enclosed organelles are present in the eukaryotes but re absent among the two prokaryotic domains. The eubacteria have a peptidoglycan cell wall that is absent in the other two domains. Eubacteria have only one kind of RNA polymerase while archaebacteria and eukaryotes have several kinds of RNA polymerases that share structural homology (Huet, Schnabel, Sentenac, Zillig, 1983). During protein synthesis the initiator amino acid among the eubacteria is formyl-methionine, but methionine is the initiator amino acid in the other two domains. Both archaebacteria and eukaryotes have genes with introns but eubacteria have genes without introns. Antibiotics like streptomycin and chloramphenicol can only inhibit the eubacteria. DNA is packaged with the help of histone proteins in the eu karyotes, some archaeabacterial species but none of the eubacteria. The prokaryotes have circular chromosomes. Some species of archaeabacteria are thermophilic and can grow beyond the temperature of 100oC. Thus there are several similarities between the archaebacteria and eukaryotes (Reece, et al., 2014). In conclusion, the new system of taxonomic classification is based the differences between the rRNA and some gene sequences. The position of the archaeabacteria as a separate domain has been established based on their similarities with eukaryotes and the eubacteria. The similarities and mutations in the small subunit of rRNA have been extensively studied to establish the domains and form the basis for molecular phylog References Gutell, R. R., Weiser, B., Woese, C. R., Noller, H. F. (1985). Comparative anatomy of 16-S-like ribosomal RNA. Progress in Nucleic Acid Research and Molecular Biology, 32, 155-216. Huet, J., Schnabel, R., Sentenac, A., Zillig, W. (1983). Archaebacteria Accounting eukaryotes possess DNA-dependent RNA polymerases of a common type. EMBO, 2(8): 12911294. Reece, J., Urry, L., Cain, M., Wasserman, S., Minorsky, P., Jackson, R. (2014). Campbell Biology. Pearson. Woese, C., Gutell, R., Gupta, R., Noller, H. (1983). Detailed analysis of the higher-order structure of 16S-like ribosomal ribonucleic acids. Microbiological Reviews, 47(4): 621669. Woese, C., Kandler, O., Wheelis, M. (1990). Towards a natural system of organisms: Proposal for the domains. PNAS, USA, 87: 4576-4579, .

The Euro Crisis and its Impact

Abstract The Euro crisis is an economic crisis that not only points at the weaknesses of economic integration, but also points at the consequences of poor economic policies at the state level. The aim of this paper is to synthesise literature on the causes, progression, and impacts of the Euro crisis on the European economy.Advertising We will write a custom coursework sample on The Euro Crisis and its Impact specifically for you for only $16.05 $11/page Learn More The literature shows that the Euro crisis is far from over. The European countries have to rethink about the economic integration strategies that can encourage prudent management of individual economies in the region to avoid such shocks. Introduction The Euro crisis was seen not only as a financial problem in the European Union countries, extending from the global financial crisis, but also as a real test of the essence of economic integration. The European Union has come out as a benchmark o f economic integration in the whole world. The rationale behind the terming of the European Union as a global benchmark when it comes to matters of economic cooperation and unity among states in the region is that it is the only economic union that has managed to realise the workability of a common currency. However, as mentioned in the opening sentence, the Euro crisis, whose genesis lies in the debt crises that mounted in a number of countries that form the monetary union, namely Greece, Spain, Ireland, and Italy, among others, resulted in the replication of the problem across the European Union. A substantial number of economic commentators term the Euro crisis as a problem that denoted the difficulty of integrating individual economies and dealing with economic pressures that come from the attributes of economic management in individual economies. The interesting thing about the crisis is that it serves as an example of how problematic economic integration can become because the faulty actions of other players could pose grave economic consequences requiring major economic decisions and adjustments by the individual states to solve the problem.Advertising Looking for coursework on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More This paper presents a review of literature on the Euro crisis and its impacts on Europe and the entire global economy. The paper contacts three main research databases, namely EBSCOHost, SIRS Researcher, and ProQuest. These three databases play a critical role in presenting sequential information regarding the moulding of the Euro crisis and the consequences of the Euro crisis in terms of economic policy development and the performance of the economy, more so on the affected economies. The selection of articles from EBSCOHost is based on topic search, where preference is given to different articles denoting diverse dimensions of research about the Euro crisis. Most of the articles derived from the SIRS Researcher database point at the fact that the Wall Street Journal receives more attention because most articles in this database are those published by the Wall Street Journal. This is aimed at producing data that is consistent concerning the development of the crisis as understood by the researchers who write for the Wall Street Journal. The articles selected from the ProQuest database depict information about the Euro crisis based on the external views about the effects of the crisis beyond the European Union borders. The genesis of the Euro crisis A substantial number of economic commentators agree with the observation that the Euro crisis, which is also referred to as the sovereign debt crisis, was brought about by the significant deficits in the balance of payments of individual countries due to unsustainable fiscal policies pursued by these countries over a substantial number of years. Higgins and Klitgaard (2014) argue that the Euro crisis beg un from the fiscal problem in Greece due to the accumulation of debt by Greece. Higgins and Klitgaard (2014) further note that Greece and other periphery economies in the European Union relied heavily on external capital. These countries needed the capital to finance housing booms and domestic consumption. The only option that seemed feasible to them was to borrow from other countries, given they could not afford to source the finances locally. Wood (2012) observes that the European countries, especially the countries in south Europe, failed to agree on a common framework on which they could opt for the Euro as a common currency.Advertising We will write a custom coursework sample on The Euro Crisis and its Impact specifically for you for only $16.05 $11/page Learn More At this point, Germany gets a fair share of the blame for failing to exercise a leading role and, instead, taking a fiscal strategy that plunged the other southern Europe economies into debt (Wood 2012). Milios and Sotiropoulos (2010) ascertain the essence of looking at the Euro crisis from the perspective of the cycles of capitalism in the Eurozone, rather than pointing fingers at the debt crisis in Greece. The real value of economic integration lies in the kind of strategies that are taken by countries forming the economic block to offset the deficits in the balance of payments. In this case, the crisis in the Eurozone is a problem that cannot be directed at one country, but the failure should also be associated with the other countries that had a chance to salvage the debt problem in the region. However, they failed to do so due to their own reasons. The high rate of indebtedness in Greece depicts not only the weakness of economic governance in Greece, but also the failure of Germany as a key player in the region to activate some steps that could salvage Greece and the entire region at large (Dinan 2012). Rosenthal (2010) further observes that the deficit limit that was set by the European Union was not only exceeded by Greece, but also other players in the European Union like France. The main concern here is that the European Union did not sanction France because of political malice. The rationale here is that France is a big brother in the European Union; that is why it is favoured even when it breaches the set standards of the EU monetary union (Rosenthal 2012). The figure below could serve as an indicator of the manipulation of the economies of the region by Germany due to the introduction of the Euro as a common currency in 2002. Figure 1.0: Current account balance for Germany from 1999-2010.Advertising Looking for coursework on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Source: Rosenthal (2012, p. 57). Figure 1.0 denotes a significant rise in Germany’s current account balance after the introduction of the Euro as a common currency in 2002. The non-existence of an exchange-rate buffer prior to the introduction of the Euro as a common currency led other weak economies in the region to lose their competitiveness as Germany took advantage of its manufacturing and export power to deny other countries the opportunity to thrive in the market. This indicates a kind of economic exploitation of other countries, a factor that necessitated the increase in the amount of foreign debt (Rosenthal 2012). Baimbridge, Burkitt and Whyman (2012) ascertained that the deflation that was later experienced in other countries in the Eurozone was as a result of the creation of a boom-bust cycle emanating from the implementation of a similar interest rate for all countries. As the most powerful economy in southern Europe, Germany could easily adjust its taxation regim e to compete at a fairly lower exchange rate. This could play a critical role in reducing the financial burden in other Eurozone countries. For more information about the comparative aspects of foreign current account balance in the European Union, see figure 1 and figure 2 in the appendix. Higgins and Klitgaard (2014) observed that dependence on borrowed money often results in its risks, particularly in situations where the countries from which the money is borrowed are no longer in an economic position to offer credit. Higgins and Klitgaard (2014) base this assumption on the issues of saving and investment at the domestic level. They note that reliance on borrowing and the failure to invest the money in economic segments that can spur local investment and savings, just as in the case of Greece and other countries in the European Union, often results in economic problems. A broader look at the Euro crisis by Wood (2012) reveals a number of causative factors. Among these factors are imprudent banks, errors in economic policy development and implementation, remote technocracy, lack of effective regulation, and turbo-capitalism. These factors are, in one way or another, linked to the mounting of the debts in individual countries across the European Union. However, Wood (2012) further observes that the Euro crisis is an economic crisis that cannot be only linked to the mounting debts in individual economies in Europe, but also a problem that can be understood by incorporating other attributes like history, sociological forces, and other elements of governance across Europe. In other words, Wood (2012) moves away from the dominant view supported by a substantial number of researchers, who synthesise the Euro crisis only based on the debt question while failing to open up to other forces that might have resulted in the worsened economic situation in Europe. Hall (2012) raises similar sentiments by noting that the Euro crisis presents a number of puzzles, as people seek for answers about the real causes of the crisis in what was earlier on applauded as a benchmark as far as economic integration in the world is concerned. Hall also paints the picture of how the two hemispheres in Europe seem divided over the crisis, where the northern European countries blame the south by pointing at the fiscal faults inherent in the economic policies of southern Europe governments. Hall presents an important statistic about the Euro crisis. Figure 1.1: Percentage growth of domestic demand in individual economies from 1999 – 2009. Source: Hall (2012), p. 360. The figure indicates significant variations in demand for growth, which means that the countries with a high percentage of domestic demand were under pressure to develop and enforce growth-oriented reforms. As the country with the highest domestic demand, Greece had no other option that to be proactive in developing strategies that could help meet its skyrocketing domestic demand. Borrowing from th e other countries with limited domestic demand was necessary to meet the domestic demand in Greece (Hall 2012). Progression of the Euro crisis A deeper look at the Euro crisis shows that the crisis moved from the debt problem in individual economies to the subsequent currency war. Rosenthal (2012) observes that the crisis in the Eurozone is best reflected in the difficulties that transpired in the operation of the monetary union. The functioning of the union was threatened as it became apparent that the local currencies in individual economies were becoming weaker and the affected countries had little to do to limit the deficits in their balance of payments. A series of actions were taken as a way of seeking for a solution to the plummeting currency problem in the Eurozone. Among these actions were the numerous currency devaluations to strike a balance between supply and demand. The setting in of the monetary union created a tough situation for currency speculation in the region. Th e extreme downward adjustment in the exchange rate meant that a further downward adjustment of the exchange rate would not be achieved (Rosenthal 2012). Baimbridge, Burkitt and Whyman (2012) present another dimension to the Euro crisis, in which they focus on the creation of the Eurozone and the effects that come with its creation. Fiscal discipline is vital in the sustenance of a monetary union. The free-rider and spill-over effects as noted in the Euro crisis are perfect examples of the faults of fiscal policy in the management of a monetary union. Thus, Baimbridge, Burkitt and Whyman (2012) summarize the Euro crisis by pointing at the prevalence of a number of structural weaknesses in the Eurozone. It is the structural weaknesses in the European Union that resulted in the escalation of the debt crisis from Greece to other countries in the Eurozone. In their assessment of the mounting debt crisis in the Eurozone, Higgins and Klitgaard (2011) noted that the rates of borrowing in th e Eurozone rose amidst the introduction of the common currency and the inability of individual countries to finance their domestic expenditures. Higgins and Klitgaard (2011) also note the creation of an economic cycle of dependency in the European Union, where a number of countries in the region were left to become dependent on borrowed money. Higgins and Klitgaard (2011) also acknowledge the countermeasures taken by the affected countries, most of which entail the consolidation measures. These measures are aimed at attaining a significant reduction in fiscal deficits in the required set standard of below 3 per cent. The measures to bring down the fiscal policies that are being implemented now could have been put in place earlier to prevent these countries from entering into debt crises, such as the one that culminated into the Euro crisis (Higgins Klitgaard 2011). A focus on the impacts of the Euro crisis based on the functioning of markets in the European Union and other countrie s that fall outside the European monetary and economic unions by Melander (2011) shows the heightened effects of the crisis beyond the assumptions made by the European Union. This is notable in the observation made by Zuckerman (2011) and Francis (2012), who ascertain the essence of the countries beyond the European region to develop and implement economic measures that can cushion them from the crisis. Malander (2011) paints the picture of the distress in countries where the Greek financial institutions were operating prior to the Euro crisis through the entire build-up of the crisis as shown in the figure below. Figure 1.2: Impacts of the distress in Greece of the periphery sovereigns. Source: Malander (2011, p. 356). The common denominator of the figure is that the weaknesses portrayed in the economic systems of Greece were replicated in the financial institutions from Greece. The deepening of the distress in Greece over the years resulted in the deepening of the distress in oth er economies that had close links with Greece through the operation of Greek institutions in these countries. It is also apparent that the exposure of the Greek economy in line with the weaknesses in other economies like the Irish economy also acted as an aggravating factor for the Euro crisis (Malander 2011). The same can also be said about the mounting of the debt crisis in Ireland as indicated in the figure below. Figure 1.3: Distress in Western Europe countries following the distress in Ireland. Source: Malander (2011, p. 357). This expands on the reason why the Euro crisis comes is an intertwined economic problem that cannot not be sorted out easily by implementing unitary strategies. The approach taken by each individual country has a lot of effects on other countries in the European Union. Zuckerman (2011) reports about the currency defaults across the European Union as a result of the low lending rates by the European Central Bank to countries in the European Union. Most ba nks were left with no option because of the growth in the amount of unnegotiated currency defaults. There is no room for underestimation as the debt that has been accumulated by countries in the region, including Italy as the 8th largest economy in the world, is too huge. Italy is also ranked as a third largest bond market, but it remains unclear whether the $2.6 trillion sovereign debt accumulated by the country can be cleared any soon. Zuckerman (2011) justifies the worry of the United States by observing that most of the affected countries in Europe continue to come up with austerity programs. However, these programs are risks in themselves as they deepen the recession in most cases, thereby making it even harder for the affected countries to service the huge debts. The more these debts prevail, the more difficult it is to establish sustainable economic relations between the affected countries and other economies in the world. Also, the Euro as a common currency in the European U nion faces major challenges, especially from people who link the crisis to the introduction of the Euro as a common currency in the Eurozone (Zuckerman 2011). However, Brittan (2010) defends the Euro by observing that the Euro is not a problem per se. The problem in the Eurozone lies with the inconsistent and fragmented economic policies and strategies adopted by the countries in the Eurozone. Saving the Euro is the priority of the European Union. Nonetheless, a look at individual countries, especially the economic powerhouses in the European Union like Britain, France and Germany, shows that these countries are committed to saving their financial institutions like banks from the risks associated with the Euro crisis (Farrell Quiggin 2011). Farrell and Quiggin (2011) further note that some countries like Germany have gone as far as developing laws to help induce debt brakes. Other countries in the Eurozone, totalling to sixteen, also followed a similar road. However, most of the ef forts initiated by players in the Euro crisis are short-term, raising questions about the possibility of developing long-term economic measures to prevent a debt problem from occurring again in the future. Farrell and Quiggin (2011) see the short-term strategies as necessary for limiting expenditure and ensuring that the bond markets across the Eurozone calm down. After laying blame on Greece for the Euro crisis, most of the European countries agree that saving Greece is a key step in easing the economic pressure in the region. The budget crisis in Greece was a subject of most European leaders in the onset of the Euro crisis, more so when the countries in the region realized that the budget problem in Greece was not only a problem of Greece, but also a problem of all other countries in the region (Forelle, Walker Galloni 2010). Impacts of the Euro crisis and the lessons learnt Mà ¼nchau (2013) observed that the Euro crisis is an example of smouldering crises that are born out of t he lack of prudent systems of economic management in economic integration. Mà ¼nchau cites what he refers to as the inflexible fiscal rules and compliance procedures that impeded the creation of incentives. What happened is that the system of economic management that came immediately and after the introduction of a monetary union subjected the smaller economies in the region to tough economic measures, most of which could not be upheld by these states. The application of the principles of economic management like the no bailout principle enshrined in Article 125 of the European Union Treaty is a justification of how difficult it is to solve problems of insolvency in individual economies that form the European Union. Other cited difficulties include the â€Å"no default† and â€Å"no exit† principles, which limit the level at which liquidity support can be offered to European Union member countries in times of crises (Mà ¼nchau 2013). To this effect, Mà ¼nchau reiter ates the essence of intense coordination of policy, monetary, fiscal, national sovereignty, and regional and global policy to avoid a situation where the players in economic integration read from different pages. Melander (2011) is quite pessimistic about the application of the principles of economic liberalization by states in the quest of states to conform to economic integration. Melander uses Ireland, one of the countries that exhibited the problem of mounting debt in the progression of the Euro crisis, by noting the fact that Ireland was applauded as a benchmark for flexibility and liberalization in the realms of economic integration. The situation later changed when Ireland later plunged into a debt amidst the mounting economic pressure in the Eurozone. The progression of the crisis resulted in a situation where the benchmark countries in terms of economic liberalization like Ireland and the worst performing economies in the region like Greece ending up in the same capsizing b oat (Melander 2011). The other issue that comes out in Melander’s (2011) analysis of the Euro crisis is the fact that economic networks are potentially harmful, irrespective of the minute nature of the economic problems that occur in an individual country. Together, Greece and Ireland do not even amount to 5 percent of the GDP of the Eurozone, yet the debt crisis in the two countries posed a threat to the entire European Union economy. Capital flow in trade and finance between member states in an economic union is an issue that warrants attention by individual states because individual states remain with the responsibility of supporting its institutions in times of economic downturn. However, a look at the response to the debt crisis in Greek and other countries proved the inability of governments to support their financial institutions. Consequently, these financial institutions were rendered helpless in terms of boosting the domestic financial status of the economy of count ries where they base their operations (Melander 2011). Xafa (2010) explores the unavoidable questions about the role of the global financial institutions like the International Monetary Fund (IMF) in cushioning countries from the effects of the Euro crisis. The International Monetary Fund served as a key institution in raising alarm about the global financial crisis. Nonetheless, such an alarm could not easily work with the Euro crisis. The Euro crisis required more than policy advice, especially for the countries that were already facing the economic effects of a huge foreign debt now that these emerging European economies could not access the externally funded credit from other countries. Irrespective of this, Xafa applauds the International Monetary Fund for its proactive steps of continuous surveillance of the global economy. Failures that resulted in the worsening of the economic situation in the European Union are linked to the rigid commitments of individual countries, which make them stiff when it comes to matters of economic support and adjustment for the common good of other states (Xafa 2010). Besides the issue of economic and financial regulation by international bodies like the International Monetary Fund is the issue of willingness of countries to go to the deeper ends in salvaging a monetary union. Karras (2011) contends with the fact that the introduction of the Euro as a common currency triggered the credit problem in the Eurozone, thus necessitating credit pressures across the Eurozone. However, Karras also agrees with the findings made by a substantial number of economic researchers pointing at the fact that the economic decisions taken by individual countries at the early stages of the Euro crisis were highly disintegrated and could not promote a common solution. The observation here can be linked to the opinions raised by a substantial number of economic commentators, who argue that the Euro crisis would result in losers and winners. Heisb ourg (2012) indicates that the winners and losers in the economic turmoil depended on the economic and political paths pursued by individual countries. The Euro crisis is a lesson to countries in the European Union, most of which have had to review their strategic economic choices. An example given here is the reliance of Germany on exports and the difficulty to sustain exports when the destiny countries face severe economic problems that inhibit their potential to import goods from Germany (Heisbourg 2012). Since the beginning of the European sovereign debt crisis, the United States as one of the largest traders with the European Union has remained active in terms of making adjustments in its economy. Most, if not all the adjustments, are aimed at cushioning the country from the shrinks in trade and securing its financial system from fallout like the financial system of Europe (Francis 2012). In the real sense, a direct exposure of the United States markets to the crisis in the Eur opean Union has not been established. However, a substantial number of investors in the United States share the sentiment that the United States’ market is vulnerable to the crisis in the Eurozone, especially when long-term solutions do not come from the European countries (Heisbourg 2012). In his research about the export strength of Germany in the European Union amidst the crisis in the Eurozone, Foroohar (2011) found out that Germany export capacity depends on the internal economic strengths of a number of countries in the European Union, like Spain and Italy. The reason why Germany finds itself at the centre of the Euro crisis is that it depends on the Eurozone for approximately half of its net exports (Foroohar 2011). The financial woes in the Eurozone present a new basis on which the issue of regional economic integration should be reassessed. Walker and Galloni (2013) report on the thoughts raised about the benefits and risks associated with leaving and remaining in th e European Union for countries that have been severely affected by the Euro crisis. The opinion about leaving the Euro vary across Italy, where 74 per cent of the Italians feel that it is prudent for Italy to remain in the Euro while 20 per cent of Italians feel that leaving the Euro is an economic reprieve for Italy. However, most governments in the Eurozone remain consistent in support of the Euro, which makes Walker and Galloni (2013) to conclude that the Euro is meant to stay put. Governments, on the other hand, are charged with the responsibility of ensuring that they keep implementing austerity measures even amidst opposition from a section of the European population. In other words, European countries face an economic situation that is a true test of whether they can maintain their solidarity and fight for the survival of the European economic bloc. Most people remain keen to see the steps taken by individual economies in the Eurozone. Nonetheless, there is no window for disi ntegration even amidst what is seen as divergent tactics by individual countries as they develop mechanisms of preventing further shocks in their economies (â€Å"European union: Solidarity is under threat from crises† 2011). The financial woes in the Eurozone, according to Dadush (2013), are quite far from being over because the risk of collapse of the bond markets in the Eurozone remains active. The question of unemployment in the Eurozone rose to eighteen million unemployed people, even as more commentators predicted light at the end of the seeming endless tunnel for the countries in the Eurozone. However, Dadush (2013) faults the proclamation by European governments that the crisis in the European Union is nearing the end. It would be illogical to explore the Euro crisis without mentioning the effects of the crisis on the industries in the affected countries. In their presentation of the effects of the crisis on the European economy, Walker and Galloni (2013) reported fea rs among a substantial number of workers, especially in plants that are directly affected by the major shrinks in the economy. The example provided here is Mirafiori car-assembly plant, which has shed almost half of its employees since the beginning of the crisis. An assessment of the Greece economy by Kalafati (2012) revealed that the Greece economy was worst hit by the Euro crisis. A focus on the health care sector of Greece depicts massive cuts in expenditure on health care. Even amidst the increase in tax to finance health care, the government of Greece still has not managed to prevent the layoffs in the sector (Kalafati 2012). Salin (2012) is one of the commentators who are looking at the conflict in the Eurozone not only from the economic perspective, but also from the political perspective. Salin identifies some of the politically-inclined sentiments raised by governments in his assessment of the actions taken by governments to tackle the Euro crisis. Among these sentiments i s that the monetary system of the Euro ought to be unified with the national policies. This is termed as the centralization of the European Union. This is a political move that can be used for maintaining a single currency use by the countries for economic benefits by ensuring that states do not only see the European Union as an economic stepping stone, but also maintain a system of checks and balances in their economic operations (Salin 2012). Farrell and Quiggin (2011) note the European Central Bank has now gained more powers as a key institution of monitoring the monetary policy in the European Union. This implies the control of monetary policies in the region, thus countries in the region cannot merely rush to monetary policy options whenever they face tough economic situations like the increase in the size of sovereign debts. Though opposed by a number of countries, a strong European Central Bank is necessary for supervising the big banks across the European economic bloc, besi des ensuring that there is stability in the bond markets across the bloc (Walker Steinhauser 2013). Walker and Steinhauser (2013) assess the possibility of embracing a political union by the European Union countries. The authors ascertain the need for the political union to ensure desirable coordination of the economic policies. The signs inherent in the sentiments from a number of stakeholders show that a political union of the European Union countries is far from being realized. As it is now, the European governments seem to be preoccupied with bolstering the currency union to prevent fiscal profligacy. The European countries have realized that the monetary union that they entered into is far from being accomplished as notable in the debt crisis that almost tore the Union apart (Walker Steinhauser 2013). Conclusion and recommendation The review of the literature conducted in this paper shows that the Eurozone countries are subjected to a test on whether they can act in a manner that is consistent with the desire to keep the European Union intact. According to most researchers, there are a lot of gaps in the integration of the European Union. These can be summed into one question: Does the answer to the Euro crisis lie with integration or disintegration? A substantial number of the opinions raised by economic commentators and political economists point at the fact that countries in the region have been contemplating on whether to embrace the Euro as a single currency or whether to shun the Euro and stick to their national currencies. Even as the debate rages on whether to stick to the Euro or whether to shun the Euro, it is apparent that the countries are put between a rock and a hard place as the option to abandon the Euro could be more disastrous to economies in the region. Moving forward, the European countries should review the framework under which the rules and policies of economic integration are developed and implemented. The vital thing here is tha t the European Union members should put their heads straight when developing these policies and rules. This is aimed at making all the countries of the Union to abide by the rules because the failure to stick to the economic policies and rules is one reason why the Euro crisis came into being. European solidarity is important and should be reflected in the development of economic cooperation among countries in the Eurozone. The issue of spendthrift governments cannot arise if each of the government remains committed to the rules and policies and if other governments in the European Union remain committed to supporting a worthy economic cause for all other partners in the European Union. Prudent economic management is a vital element for each country in the European Union. As such, there is a need to look into this attribute. The Euro crisis finds its roots in the attributes of irresponsible fiscal and monetary policies by individual countries. Whether the level of irresponsibility i s promoted by the fact that these countries believe that they have a backing from other economies is something that ought to be investigated, even as the support for the implementation of austerity measures in the countries severely affected continues. The functioning of the Euro system depends on the efficient national budgets, which means that the economic construction of each country is a vital element for the survival of other countries. The political rhetoric should be eliminated from the debate, considering the fact that these countries can hardly abandon the Euro. In addition, the stakeholders have to devise a system of checks and balances for each country to avoid such a crisis in the future. Appendices Figure 1: Current account balance for the intensely affected EU countries Figure 2: A comparison of current account balances with Germany Reference List Baimbridge, M, Burkitt, B, Whyman, P 2012, ‘The Eurozone as a flawed currency area’, Political Quarterly, v ol. 83, no. 1, pp. 96-107. Brittan, S 2010, ‘The euro? Will it still be around five years from now?’, International Economy, vol. 24, no. 2, pp, 6-10. Dadush, U 2013, ‘Who says the euro crisis is over?’, Wall Street Journal Asia. Web. Dinan, D 2012, ‘Governance and Institutions: impact of the escalating crisis’, JCMS: Journal of Common Market Studies, vol. 50 no. 2, pp. 85-98. ‘European union: Solidarity is under threat from crises’ 2011, OxResearch Daily Brief Service, p. 1. Web. Farrell, H, Quiggin, J 2011, ‘How to save the euro–and the EU’, Foreign Affairs, vol. 90, no.3, pp. 96-97. Forelle, C, Walker, M, Galloni, A 2010, ‘Europe vows to save Greece’, Wall Street Journal. Web. Foroohar, R 2013, How Germany can save the Euro, Time Incorporated, New York, NY. Francis, D 2012, How to protect your investments from the Euro crisis, U.S. News and World Report, Washington. Hall, PA 2012, ‘The ec onomics and politics of the Euro crisis’, German Politics, vol. 21 no. 4, pp. 355-371. Heisbourg, F 2012, ‘In the shadow of the Euro crisis’, Survival (00396338), vol. 54 no. 4, pp. 25-32. Higgins, M, Klitgaard, T 2011, ‘Saving imbalances and the Euro area sovereign debt crisis’, Current Issues In Economics Finance, vol. 17, no. 5, pp. 1-11. Higgins, M, Klitgaard, T 2014, ‘The balance of payments crisis in the Euro area periphery’, Current Issues In Economics Finance, vol. 20 no. 2, pp. 1-8. Kalafati, M 2012, ‘How Greek healthcare services are affected by the Euro crisis’, Emergency Nurse, vol. 20, no. 3, pp. 26-7. Karras, G 2011, ‘From hero to zero? The role of the Euro in the current crisis: Theory and some empirical evidence’, International Advances in Economic Research, vol. 17 no. 3, pp. 300-314. Melander, O 2011, ‘Dancing spreads: Market assessment of contagion from the crisis in the Euro periphe ry based on distress dependence analysis’, International Advances In Economic Research, vol. 17 no. 3, pp. 347-363. Milios, J, Sotiropoulos, D 2010, ‘Crisis of Greece or crisis of the euro? A view from the European ‘periphery†, Journal of Balkan Near Eastern Studies, vol. 12, no. 3, pp. 223-240. Mà ¼nchau, W 2013, ‘The Euro at a crossroads’, CATO Journal, vol. 33, no. 3, pp. 535-540. Rosenthal, J 2012, ‘Germany and the Euro crisis’, World Affairs, vol. 175, no. 1, pp. 53-61. Salin, P 2012, ‘There is no euro crisis’, Wall Street Journal. Web. Walker, M, Galloni, A 2013, ‘Embattled countries cling to euro’, Wall Street Journal. Web. Walker, M, Steinhauser, G 2013, ‘Control issues: Plans for political union unravel in Europe’, Wall Street Journal. Web. Wood, S 2012, ‘The Euro crisis’, Policy, vol. 28 no. 1, pp. 32-37. Xafa, M 2010, ‘Role of the IMF in the global financial c risis’, Cato Journal, vol. 30, no. 4, pp. 475-489. Zuckerman, MB 2011, Mort Zuckerman: Why America should worry about the Euro crisis, U.S. News and World Report, Washington, D.C. This coursework on The Euro Crisis and its Impact was written and submitted by user Vicente Mayo to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

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