European Union convene emergency economic summit to overcome third wave of crisis
The European Union is convening an emergency economic summit in Brussels on February 11 to formulate the coordinated response of the community to the third wave of the economic crisis, which has become the heaviest of 11-year-old history of the Euro zone, the agency reports citing information portal NEWSru.
Almaty. February 11. Kazakhstan Today - The European Union is convening an emergency economic summit in Brussels on February 11 to formulate the coordinated response of the community to the third wave of the economic crisis, which has become the heaviest of 11-year-old history of the Euro zone, the agency reports citing information portal NEWSru.
"The Euro zone, as of today, has turned into one of the weakest economic links after the crisis has weakened the economies of the EU states as compared to the traditional western partners-competitors - the USA and Japan and the group of states turning into the new world economic leaders BRICK - Brazil, Russia, India and China.
The reason for such a situation - inability of the EU member states to carry out within the last 20 years the necessary structural reforms in the economy and social sector and the absence in the Euro zone of the uniform centre of acceptance and realization of macroeconomic decisions - the so-called economic government. The main executive office of the EU - the EuroCommission - does not have enough powers to perform these functions, Prime-TASS informs.
According to the analysts, the third wave of the economic crisis overwhelmed Europe in the beginning of 2010. "As a matter of fact, this has been due to overheat of the economy by the anti-recessionary measures accepted in the end of 2008 - the beginning of 2009. It has two main components: budget deficit and unemployment."
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Concluding the meeting parties adopted Joint Statement, which aimed at strengthening comprehensive cooperation in key areas between the two regions.
It is worth mentioning that the "Central Asia - GCC" dialogue platform was launched in 2022. The First Ministerial Meeting took place in September 2022 in Riyadh, the capital of Saudi Arabia, while the First Summit of this platform was held in July 2023 in Jeddah, with participation of the President of the Republic of Kazakhstan Kassym-Jomart Tokayev.
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Strengthening Cooperation between Kazakhstan and South Africa Discussed at MFA
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