Why is such an international monetary system no longer suitable for global economic development?

At present, there are many economic problems in Europe and the situation is very difficult. The prospects for economic recovery and revitalization in Europe are uncertain, mainly due to the following factors.

1, the aging in Europe is very serious, which has caused the near collapse of the welfare state system, and the population factor, the most active factor to promote the development of productive forces, has been greatly restricted.

2. Social problems caused by population movement.

In addition to the increasingly acute problem of population aging, large-scale population mobility and immigration in Europe have caused increasingly uncertain social problems, and Europe is also facing similar problems to the United States in this regard. In recent years, due to the more relaxed immigration policies of the European Union and European countries, more and more foreign immigrants have flooded into Europe, bringing a large number of labor and technical talents to Europe, but there are also many social problems in which illegal immigrants conflict with local people. In 2005, a large-scale riot broke out in Paris, France. The reason is that two boys from North Africa were electrocuted while avoiding the police in the Clichy jungle on the outskirts of Paris. Last year, a large-scale, long-term "London Summer" violent riot occurred in Britain, which spread to many major cities in Britain. One of the most important reasons is that the weak economic recovery and the inequality between the rich and the poor caused by the impact of globalization have triggered the existing contradictions between immigrants and locals. Europe really needs immigrants, but how immigrants integrate into Europe is one of the main sticking points that plague European society.

At the same time, within Europe, large-scale population migration and mobility have also caused population problems within Europe. Due to the rapid eastward expansion of the European Union, a large number of people from 10 countries newly joined in 2004 poured into Western Europe with a higher level of economic and social development, but the new laws and regulations on population movement within the European Union were not improved accordingly, thus causing the gap and contradiction between "old Europe" and "new Europe" brought about by population movement.

In this regard, Europe faces similar population and immigration problems as the United States, but compared with the United States, Europe lacks historical experience, policy experience and legal experience in dealing with this problem and is relatively at a disadvantage. Today, with the deepening of globalization, the division and boundary between economic issues and social issues are becoming more and more blurred. Social problems such as immigration, population migration, intermarriage, ethnic groups and religion in the population field will have a great impact on various problems at the economic level, and will also have many impacts on the political field, thus forming an all-round "three-dimensional, multi-ring linkage crisis chain" of economy, society, politics and culture, which restricts economic development and social rejuvenation.

Since the outbreak of the global financial crisis in 2008, the economic situation in western developed countries has fallen sharply, and the economic indicators of major economies have fallen sharply.

The outbreak of Greek sovereign debt crisis in 2009 marked the development of European economy to a new stage of global financial crisis: European sovereign debt crisis stage.

Therefore, the economic situation in Europe is even worse, and there are signs of collapse again and again, which has caused serious impact and many uncertainties on the global economy and the world market.

65438+On the evening of February 2009, the international rating agency Standard & Poor's announced that it would downgrade Greece's long-term sovereign credit rating by one notch, from "A-" to "BBB+". Standard & Poor's also warned that if the Greek government cannot improve its financial situation in the short term, it may further downgrade Greece's sovereign credit rating.

This is the second time in a week that Greece has been hit by a credit rating downgrade. On the 8th of this month, Fitch Ratings Limited, another rating agency, just downgraded Greece's sovereign credit rating from "A-" to "BBB+", which triggered a sharp drop in the Greek stock market and a sharp rise in risk aversion in the international market. Moody's, another rating agency, also put Greece on the watch list and may downgrade its credit rating.

On April 27th, the exchange rate of the euro against the US dollar and the Japanese yen fell sharply in new york, as the market was worried that the sovereign debt crisis might spread to the euro zone, causing investors to flee from risky assets. On the same day, Standard & Poor's downgraded Greece's sovereign rating by three levels to BB+, which is the highest level of speculation or "junk" and gave it a "negative outlook". At the same time, it also downgraded Portugal's sovereign rating by two levels to A- and gave it a "negative" outlook.