By 2011, many countries had experienced an escalation in debt and deficits. It appeared that some might be incapable of servicing their debt, and might need to default. The United States Of America was in a budget crisis in which "left wing liberal" Democrats wanted to increase taxes on the affluent while "right-wing conservative" Republicans demanded cut in costs. A philosophical divide existed over the function of personal responsibility versus the role of government.
In the European Union, the "PIIGS" - Nonetheless, these loans contained a condition to move towards balanced budgets. While citizens of the successful nations asked why they should have to pay citizens in the borrowing nations objected to the intense tax increases and expenditure reductions. It was unclear who would bear the load of reducing the deficits and debt.
PUBLICATION DATE: August 16, 2011 PRODUCT #: W11274-PDF-ENG
This is just an excerpt. This case is about STRATEGY & EXECUTION
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