(May 1, 2013, http://perspectives.pictet.com/2013/05/01/euro-area-deflation-is-looming/ last accessed 25 May 2014)The above The diagram shows the inflation rate of the Eurozone. During the recession, the eurozone inflation rate did not fall much. This shows that the ECB's policy has succeeded in keeping the inflation rate around the normal rate of 2% and in encouraging people and businesses to spend and invest more money. Since the interest rate is low, businesses and individuals will tend to spend rather than put their money in the bank. This is because they think it's not worth putting their money in the bank when interest rates are so low. In addition, low interest rates also encourage businesses to obtain a bank loan at a very low interest rate. This could increase consumer consumption. In the Eurozone, governments have increased taxes to save the economy. As taxes rise, governments can get more money. So they can reduce their debt. By reducing the debt, the government can slowly emerge from bankruptcy. If a country goes bankrupt, it will cause far more problems than a recession. Therefore, this policy is good to prevent the country from going bankrupt. The debt being enormous, governments are trying to reduce their spending. Since government spending is reduced, the national debt will not increase quickly. In addition, the European Central Bank helped bring out the recession by reducing interest rates. The objective is to reduce inflation. As inflation rises, people will need more money to buy a good. To prevent this from happening, the ECB reduces its interest rate to keep the inflation rate low. The chart above shows the GDP growth rate of the United States of America during the recession. From 2008 to 2009, the U.S. GDP growth rate increased from about +3 to about -7. After President Obama created the stimulus package in 2009, the GDP growth rate increased rapidly, from -7 to almost +5. This shows that the policies implemented by the US government are working very well in helping America recover from the Great Recession. Additionally, the US government has cut taxes. This was successful because it increased people's net income. Americans may have more money in their pockets to spend. Additionally, the Federal Reserve cut interest rates to help the United States emerge from recession. Lower interest rates have helped the economy by encouraging. In 2009, the unemployment rate gradually decreased. This statistic shows that US policy is very effective..