SUK3 Europe already has one foot in ‘Japanese’
deflation
SUMMARY OF EUROPE ALREADY HAS ONE FOOT IN ‘JAPANESE‘ DEFLATION
Ambrose Evans-Pritchard, in the Telegraph of October 23, 2013, discusses the aspects of
the European Debt crisis while suggesting potential pertinent solutions. He dissects this
economic dilemma by providing a wide range of specific examples to expose its nature.
Evans-Pritchard proves that such a crisis is not preliminary by illustrating his article with
examples of events such as the American Revolution and the US agrarian revolt of the late
20th century, which according to author were induced by the economic policy errors. These
errors are being committed even nowadays.
Accordingly, the risks of deflation are highly underestimated, particularly in low debt
countries. While the inflation has been subsiding, there has been an upsurge of deflation. If
the latter exceeds 300%, severe consequences are to be expected. The Eurozone countries
are on the verge of experiencing the Japanese-style deflation.
Moreover, the symptoms are already there but attempts to eradicate the deflation problems
are not undertaken. Although, there are potential solutions such as forcing Germany to
accept inflation, the country is tentative to do so, due to its strong economy. Therefore,
apathy is chosen with a hope for a salvation by the next global growth.
193 WORDS NOT INCLUDING TITLE
The first part is well written as it mentions the author, the newspaper and the date. It gives us an overview of what the article is about. I would have left out the dates of the American Revolution and the US agrarian revolt as it is not really necessary, you either know it or you look it up when you're interested. It is important to mention these events and not the dates.
I wouldn't mention numbers like 300% (in second part of the text). It's enough just to write "exceed", as this verb already suggests higher numbers. I don't think you have to mention precise numbers in a summary.
The last part includes three linking words, avoid them!
The anonymous writer could have explained one argument a little more or could have mentioned which countries are affected. That way he/she would have reached the 200 words.
All in all, I really like this summary. It provides enough information, and not many unnecessary arguments.
