Committee
Eurogroup
Country
Latvia

Author

Cite as https://mymun.com/ppdb/8110

Topic A: Proposals for debt restructuring programs for any indebted Eurogroup country

Since the end of World War II, European countries have experienced fast economic growth through the lift of trade barriers and the adoption of a common currency. The adoption of the Euro has made trade easier inside Europe which it has been translated into strong economic growth through cheaper interest rates fostering a higher level of investments inside the Eurozone. Latvia, in particular, has seen its own GDP growing by more than 10% between 2006-07, making it the fastest growing economy in Europe in that period of time. Indeed, this miraculous growth was essentially possible due to the advantages brought by further cooperation and integration at the economical level as it interlinked European countries with tighter ties. However, when the financial crisis hit in 2008, the situation changed dramatically as European countries were no...