from introduction:

As the title of this article indicates, I want to explain the consequences of the financial crisis. Because the crisis came from the US to Europe I will also discuss some of the consequences of the financial crisis in the US. The most obvious results of the Crisis in Europe, but also in the US, were the following: I The new Regulations in Europe and in the US, like the Banking Union, the Frank-Dodd Act and EMIR regulation in order to trying to avoid a new crisis. Connected with the banking Union are the monetary politics of Draghi to reduce the interest rate to a historical low just to „stimulate the economy“. Related to this policy are the notions inflation and deflation. This has to be studied as well. These notions will also be discussed in connection with the views of the Austrian School. That indicates Von Mises’ and Hayek’s point of view, but also the opinion of Jesus Huerta de Soto, adherent of the youngest Austrian School will be explained, because they have a totally different view on the mainstream financial policy of today. II The Frank-Dodd Act and the EMIR regulation in order to trying to avoid a new crisis will be discussed separately. III The new role of Europe’s Leaders and the shift of power. IV Europe’s citizens’ changed attitude towards the whole European concept. It sounds very contradictory, but on the one hand the ideal of the Euro-crats of an ever-closer Europe seemed to come closer and on the other hand European citizens revolted against this evolution and voted likewise: they are often referred to as the Euro-sceptics. While previously the European citizen did not care about what happened in “Brussels”, now they want to have a say in that. In the conclusion the future of Europe and some suggestions how to handle that, will be discussed