Structural reforms in the economic crisis of the European Union and the lost decade of Latin America, lessons to be rescued

Abstract

The European crisis and that of Latin America at the time, have put in difficulties the recovery of the world economy, the difficult recovery contains atendency to increase poverty and social exclusion in the euro zone and in this same sense the structural reforms have shown as in the 80’s, an enormous power of social destructuring. Structural reforms are considered fundamental elements to increase the potential growth of the economies, but due to their results it has been demonstrated that they have not been favorable neither in the short nor in the medium term for the economies that applied them. It is worthwhile to rescue their viability from both experiences in response to economic crises.