Accountability, Representation and Control

Topics: Eurozone, Euro, European Union Pages: 11 (3681 words) Published: May 11, 2013
Accountability, Representation and Control


This paper is concerned with the concepts of accountability; representation and control explain the euro debt crisis in detail. The author takes a deeper journey into the meaning of occurs of Euro sovereign debt crisis by use of definition of ARC to in-depth explain this issue. We propose further examination of the ARC relating to the Euro sovereign debt crisis in order to propose a prosperous and harmonious of Euro zone.

Table of Content
2.2Main arguments4
3.Testing Methods5
3.1Methods of research process5
3.2Measuring the sentiment6
3.3An Eyeball Test6

1. Introduction
As deterioration of the sovereign debt crisis in the euro zone, it appears more urgent for east European countries to adopt the euro, for another, the euro zone enlargement is facing a series of real challenges both from the economic convergence and the change of the political and policy environment. In recent decades, Most of literatures and business managers always claim that ARC is the most important way in the system of management control, Accountability, representation and control critically examine the role and effects of accounting in organizations and society, the three interlinked conceptual themes: Accountability, representation and control can give us alternative ways of understanding accounting and focus on economy issues. Observers have already drawn attention to the paradox in the study of ARC; particularly the theoretical study could make the problems moving in interesting new directions. It can be concluded that relationships between ARC and the euro debt crisis are closely interlinked.

The cluster of economic problems that emerged from Euro sovereign debt crisis has influenced almost all euro countries in December, 2008, the rise of this crisis in Greece, but this crisis spread sharply to other European countries and before long the Greek crisis is not the protagonist. Some countries, for instance, Spain, Portugal, Iceland, with Germany which is the leading nation of Euro Group also feel the impact of the crisis could be a big threaten for its economic and society stability, with the European stock markets drop sharply, the euro is facing the most biggest challenge in the last several years from 1999.

This essay seeks to remedy these problems by analyzing the literature of Euro debt crisis and use the concepts of accountability; representation and control help to explain the euro crisis. The paper has been divided into four parts. The first deals with some literature review of ARC and euro debt crisis. To really realize what is the meaning of accountability, representation and control and euro debt crisis. Secondly, it will give a brief overview of euro debt crisis and put example of Greece which is one of the most significant euro countries in this euro sovereign debt crisis and analyzing the causes of this financial crisis. Thirdly, I will provide a reasonably brief analysis of the problems of how the concepts of arc help understanding the Euro crisis. The last chapter assesses some advises about the Euro sovereign debt crisis in the paper. 2. Literature review

Two of the three main credit-rating agencies, Fitch and Standard & Poor's (S&P), cut their rating on Greek bonds and gave warning that a further downgrade was likely. A debt standstill by Dubai World, a state-backed property venture in the Middle East, made bond investors more nervous about sovereign risk. Greek bond spreads started to widen again. In mid-December the government responded with a fresh plan to cut the deficit. Bond markets were unconvinced. So were the rating agencies: Fitch and S&P cut Greece's grade again, from A- to BBB+. (The Economist 2010)

Fitch and Standard & Poor’s(s&p), two of three main credit- rating agencies in the world, downgrade the...
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