answersLogoWhite

0


Best Answer

There's a famous theory going with this question: namely the Domino Theory (first popularised in the time of Harry S. Truman).

The Domino Theory states that if one country fails, all will fail.

So if for example Greek didn't receive (financial) aid from the European Union, there would be a high risk that other countries may be affected by their problems and so 'fail' as well.

User Avatar

Wiki User

13y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: What happens when one country in the European Union fails?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Continue Learning about Economics

How does a mixed economic system fails?

it usually fails because the country cant balance the capitalism and socialism.


What are Six ways to resolve union and management differences when collective bargaining fails?

tell them to suck this dick and we have an agreement.


What happens if a country goes bankrupt?

Are you referring to America? Well, infact, a number of things could happen. First of all, bankrupcy is highly unlikely. Especially in todays world. Usually when a country finds themselves heading in a direction where the government can no longer support a failing economy the first thing they will do is meet with other nations to form trade agreements to increase trade. For example, Country A, might meet with Country B and ask Country B to lift customs fees/tariffs to increase imports of Country A's goods. If this fails, they will then seek loans from other countries. Usually this will be their allies since in peace agreements they usually, not only include military peace but also include economic peace which means the other country will bail them out. If that fails then they will seek assistance from other countries and for something that their country has to offer in return. For example, Country B agress to assist Country A with financial assistance if Country A allows Country B to use a military base(s) in Country A's jurisdiction. It also means that Country B would have a HUGE influence over Country A's political position and 'world view.' IF THAT FAILS... 1) The stock market will crash and credit will seize 2) All financial institutions will fail 3) All government funded programs will end (such as medicaid, defense, police, education, infrastruture support like roads, utilities etc) 4) Business will close and jobs will be lost 5) There will be mass rioting (and no police to stop the rioters or fire fighters to fight the fire) 6) Everyone will start killing each other for food 7) The rich will buy the country and turn a democracy into a dictatorship As of March 1 the American government will be bankrupt Before #1-7 can happen, the US will simply default on its debt. For an example of what happens then, see Argentina.


Who decides if a business survive or fails?

The market place.


Why is it important to diversify your economy?

An economy based on only one market is an invitation to disaster. If that market fails, the entire economy fails. With diversification, an economy can survive a failed market.

Related questions

What happens if a country fails to follow the declaration of human rights?

they get reported but god.


When does a golf club cease to be a golf club and become a society?

when it fails to pay its affiliation fees to the governing Golf Union in the country in which its located.


What happens when MBR fails?

When MBR fails then the operating system will not load.


If a bank that holds your mortgage fails what happens to that mortgage?

See http://www.fivecentnickel.com/2008/09/22/what-happens-to-your-mortgage-if-your-bank-fails/


How long do you have to get your car fixed if it fails inspection?

Depends which country you are in and which inspection it fails.


What happens when the network fails on the computer?

Try it


What happens if the integumentary fails?

you would die


What happens if the bladder fails?

You will have to go to a doctor.


What happens to your body if your system fails?

If your digestive system fails you will suffer and possibly die from malnutrition.


What happens if interpositional reconstruction fails?

When interpositional reconstruction fails, total joint replacement may be necessary


What happens to the body of the digestive system fails?

You die.


What happens if the embryo fails to implant?

That's a miscarriage.