Delegates: Li Wenjin, Zhang Jin
School: High School Affiliated to Shaanxi Normal University
Country: United States
Committee: International Monetary Fund
Topic: Euro zone sovereign debt crisis
It’s known to us all, from late 2009, fear of a sovereign debt crisis developed among investor concerning some European states, intensifying in early 2010 and thereafter. One the side of the excessively borrowing states the governments have had problems to finance further budget deficits and service existing high debt levels. While the sovereign debt increases have been most pronounced in only a few euro zone countries, they have become a perceived problem for the area as a whole.
United States think it as a very serious problem. If there is no measure to be taken with the crisis, the economic of euro zone countries will continue down. And this may cause the euro break up. With the globalization, all economic systems will be influenced. And euro zone sovereign debt crisis is also mixed up in United States. So US will take some measures. For example, US will establish some new functional sectors to recovery the economic. Taking into account the current situation in euro zone countries, US think it is requisite to do debt restructuring for US. And as for the European Union, they should set up a relieving fund, and banks need to increase their funds and so on. However, US deeply conscious that the economic of US herself also has big crisis. What she can do is only a little, but the crisis can’t be solved easily by her. So the UN should provide more help to the euro zone countries.
The delegates of United States think the euro zone sovereign debt crisis isn’t a problem that can be solved easily by only one country or one organization. And the delegates of United States call on other countries to give a hand. But the euro zone countries like Greece, Italy and Iceland should also set up a self-contained system to face the crisis and to make the economic grow again.. In this special time, every country should unite together to face the problem.
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