It has made no secret that the burgeoning financial conditions of the European average-looking citizens have dire repercussions on the world recovery and it reveals a disturbing fact which is the failure of the economists' policies and the government measures to cool down markets and restore the investor confidence. On the European front, many of the euro zone countries still struggling with their debt sovereign problems, Greece is undergoing the toughest financial measures in its history through the perpetual cutting on the public expenditures, social entitlements, social services, the governmental jobs and raising taxes. Portugal, Spain and Italy are candidates to inherit the heavy financial fiasco from the other financial stricken countries in the euro zone however Germans people are on pins and needles from the huge bailouts funded by German taxpayers . Moreover, many of financial institutions represented in the international monetary fund (IMF) warned again within just a month that the whole world will have lachrymose effects financially if the western countries still grapple with their budget deficit which means perpetual erosion in its credibility to attract more foreign direct investments. On the American front the last decision by Goldman sacks corporation to downgrade the U.S treasury bonds from AAA to AA+ came as another setback to the U.S credibility to honor on its debt ahead as the political squabble between democrats and republicans add something unpleasant to the financial equation in the U.S and abroad . The pent-up role of the budding markets can be one of the most important pillars of the global recovery as BRICs countries (Brazil, Russia, India, China ad South Africa) is accountable for one third of the global GDP (gross domestic product )—this financial and commercial block can play such a great role in taking the world helm into the safe shore because the huge capabilities of these countries as the hugest financial reserves or the manufactures of the raw materials and processed goods-- , China buying to American bonds is one these pillars the US counting on to recover from the financial downturn. But what should be done ahead to get around another financial disaster, first ,the reforming of the financial institutions such as the IMF ,World Bank to increase the voice of the frontier and developing countries to have more of a say in financial decision making circles. Second, the western counties should adapt more transparent measures in publishing public figures related to budget deficit and public expenditures. Third, wall street Stackhouse must be reformed to get red of the fist grip of those who control the whole market in favor of a very few rich people .
