However, this might not necessarily be effective enough as all kinds of problems have become increasingly complicated and globalized. In recent years, many positive developments have been made by private companies, public organizations, and international organizations toward solving such problems. First, mechanisms have been used more widely to encourage economic agents to act in accordance with the goals of sustainable development.
One of these thinkers is Soeren Kierkegaard. And he said: “Life can only be understood backwards but it must be lived forwards”. Of course, today I am not going to philosophise about life because, unfortunately, Europe still faces some economic problems. Nevertheless, I will apply Kierkegaard’s principle to the subject of today’s speech: the European sovereign debt crisis.