When will the financial crises in Europe be over

In the middle of June leading economists from Germany participated in a debate whether the common Euro currency is to be held responsible for the crises in Europe. The CEO of the Institute for economic research Ifo Hans-Werner Sinn stated that the introduction of the common currency was a huge mistake. In an interview for Frankfurter Allgemeine Zeitung he confessed that the Euro zone is in a situation where nothing positive can be made and declared that what the politicians do is completely wrong: the pouring of more money to bail out troubled countries is not a decision. In this way the debts are socialized and passed on to all taxpayers, while the cheap loans will never be repaid. He and the rest of the economic advisors state that the Euro zone needs was a mechanism for the closure of the insolvent banks. This will be the only way through which the risks of the banks will not be passed on to state.

However, is the end of the financial crises in Europe near? The experts do not have one opinion on the matter. Some see positive signs from the decrease of the unemployment levels in Spain and the delay in the recession in Europe, while others say that nothing is certain yet and that this could be just a temporary thing. Bulgaria is stable despite the political changes. The investors find the country appealing and that is why many of them are registering companies in Bulgaria and outsourcing their business in Sofia.