Western Union and the Eurozone crisis - Coursework Example

The Eurozone crisis that has been initiated in the later part of 2009 and is continuing for a prolonged period even in recent times has been creating severe economic fluctuations around the globe in markets of established as well as emerging economies. This has resulted in the downgrading of economies as well as a reduction in growth forecasts for various countries around the world by leading agencies like S&P, IMF, etc (The Guardian, 2011). The fluctuation in the economy, as well as the rise in deficits, has led to various kinds of spending cuts on the parts of the government of various countries around the globe. The fierce economic swinging in recent times has also produced severe fluctuations of indexes of industrial productions in various established economies like the US for a prolonged period. Many of the industries belonging to various sectors like hospitality, agriculture, retail, etc. have been severely affected. (THE WESTERN UNION COMPANY, p.19) This fluctuation in industrial production has in turn resulted in significant cost-cutting by companies around the world, which in turn affected the job market and thereby hampering consumer spending (AccaGlobal, p.7). The operations of Western Union highly include the transfer of finances on the part of the consumers as well as business houses to various parts of the world. The gloomy scenario emerging out of the inability to resolve the ongoing Euro crisis by the national political parties has led to prolonged variations in job opportunities thereby immensely hampering the spending on the part of the consumers. (National Bureau of Economic Research, P.9)

2. Peer-Reviewed Article
The peer-reviewed article highlights the problems that arose in the auto industry in the US during the 2008-2011 periods as a culmination of low sales, high structural costs as well as debts (Klier and Rubenstein, p.1-21). The paper also discusses the related governmental procedures that happened during that period ranging from the unavailability of a consensual decision to provide support to the carmakers to the issuance of financial assistance for a short span by the outgoing political party.

The paper rightfully discusses the action taken by the new president through the formation of a presidential task force which was instrumental in troubleshooting the crisis scenario by the efforts of restructuring GM and Chrysler. The authors also discuss the measures taken up by the government in the aftermath of the near-crisis kind of situation. The paper also draws attention in-depth about the process of industrial restructuring that followed through the process of active revision of production capacity as well as industry geography.