ABSTRACT
Economic growth is the pillar that most groups focus on when attempting to attain more sustainable eorts and development. In trying to build their economies, many countries focus their eorts on resource extraction, which leads to unsustainable eorts for environmental protection as well as economic growth sustainability. However, recent events indicate that even short-term economic growth has not been managed successfully. e European sovereign debt crisis unleashed that some countries in the Euro area rely too much on borrowing instead of improving the productivity to nance their welfare system. Overwhelming debt burden
has made it dicult or impossible for these countries to renance their government debt without the assistance of third parties.
