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European crisis vs Us crisis

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Prepare and submit a paper on why is the european crisis so much more severe than the us crisis and what could be done to fix it. This crisis first manifested in late 2009 when the sovereign debt crisis was triggered by the increased levels of government debt around the world, and it was worsened by the downgrading of government debts for some European countries. Various causes of economic crises were seen for different European countries and all of these issues converged to form sovereign debts which were further increased by banking bailouts. In some other countries in Europe, their crisis was caused by private debts arising from the downturn of the property market. Greece was one of the countries which were significantly affected by this crisis. However, in general, the impact of the European crisis has been largely extensive. The impact of this crisis however seems to be larger and longer as compared to the US economic crisis as the US is now manifesting improvements in their economy. This paper shall discuss why the European crisis is so much more severe than the US crisis and what could be done to fix it.

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