Nora Gordon Econ- Article Reviews Due: Thursday September 13, 2012 Northern Gripes This article is important

because it illustrates how even though countries are connected in the EU they still have independent issues within their economies. Not all countries in the EU have the same central economic structure, focus or plan, which causes tension and disparities during times of crisis. The underlying conclusion made by the author is that being part of the EU can be controversial. Some countries are hurt more by being apart of it but in the end still may support the structure. The article primarily focuses on Finland, where their economic is doing significantly better than their counterparts so they are contesting having to bail other countries out. Yet even so the Finns still generally favor being a member of the EU for benefits for unions and corporations. I found it interesting that the countries in the EU dont need to have all the same economic structure and plans. The article mentioned that Finland played by the rules but other countries did not, which is a cause for the major recession. I also find it interesting that with different perspectives, economies that appear to be strong are actually weak and vice versa.

Not Too Little, Possibly Too Late This article is important because it displays how countries or unions act in the final stage of crisis. As the article mentioned, the ECB is now introducing their last resort, a mechanism that will hopefully turn the economies around. The conclusion of the author is that this bond purchase program may be a success but only to a certain extent. Due to the late stages of economic disparities these countries in the EU face, there is only so much policy can do to turn the economies around. Overall instability and weakness within the independent countries will have to change for a real turn around to appear. While the ECB may

have helped stop things from getting worse, this new program may take more time and effort to see real results. I found it interesting that the ECBs actions are clearly not in their mandated area of control. Its intriguing that only Germany was truly against them overstepping their boundaries.

Boxed In This article is important because it shows how beneficial international trade is and how it limits economies when the amount of trading is lowered. It is also important because it illustrates the overarching theme of how all economies are affected by one another. The authors main point is that trade and GDP are closely related but because of other factors, they are directly and perfectly associated with one another. Also certain economies, like those in Europe, have withdrawn from trade because they might not want to convert money or experience a lag between exporting and receiving money and because they want to focus on fixing domestic problems. I think it is interesting to see how countries act in times of crisis. While international trade could be beneficial to various economies, many countries are scared their neighbors will benefit far over them and are implementing actions of protectionism. Countries are fretting and therefore causing problems with their neighbors while they really could be helping one another.