Summary Correction

Europe already has one foot in ‘Japanese” deflation grave 

“The debt deflation theory” by professor Irving Fisher would take EU authorities far 

in the battle against rising debt. As the American Revolution has shown, deflation is an

underestimated danger with the potential to lead to economic disaster. If total debt 

grows too high, as happens in Western Europe, deflation gets mortal. The eurostat 

index depicts that deflation has dropped. The tendency of falling prices is seen in 

many countries. Similar to Japan’s crisis, the eurozone economy is in endangered by 

high debt ratios and sustained deflation. Zsolt Darvas from the Brussels think tank 

Bruegel equates deflation with bleakness. He accuses the European approach of the 

debt crisis and mentions the dilemma of states being pushed to “internal 

devaluations”. Vicious dynamics such as the “denominator effect” are witnessed 

in countries like Italy, where debt rises faster than GDP. The same is true for 

private debt, where with crash diets for erred states, economic self destruction 

was only enhanced. For Mr Darvas, let inflation elevate means escaping 

from the deflationary spiral. Responsible for money shifting to Germany is the ECB 

and non counteracting member states which fear Germany would leave the eurozone. 

Europe hope for global growth to fight the deflation virus.

Comments & Corrections

First of all, I thinks that the author and the newspaper in which the article was 

published should be mentioned at the beginning. There is no logical structure in the 

summary, it reads like a nice story but it is not clearly structured. I also think that 

there are several things that should be in the summary that were left out and that

there are many unimportant facts included in the summary. One example for this is

Irvin Fisher, he is not mentioned very often in the article, so I do not think that he

needs to be in the summary. I also think that Zsolt Darvas should not be in there.

I like it that the summary states that deflation is very dangerous, but I think that 

maybe the path to that deflation should be explained.What I do not understand is 

that the summary says that deflation has dropped. It should be the other way around. 

The article is about the danger of too high deflation in Europe.

If I had to correct this summary, I would rewrite the whole thing because I can not

make sense of the structure and the logic of the writer.

Schengen Final Version

Schengen 1

The Schengen Agreement is a 1985 treaty which caused the removal of internal borders (suspension of border controls?opening of national borders?) in the EU. Since 1995 there is (MNN: has been) one single external border for all the countries in the Schengen Area instead of many national ones. That (this) means that there are no longer passport checks (check: 8.000 google hits, control: 113.000) when you cross (when crossing more formal) the border from one country which has signed the treaty to (with) another one (redundant- leave out). The Schengen Area has a common visa and asylum policy and the police forces of the countries in that area work together when (for example) a criminal (criminals sounds more generic) crosses borders.(needs changing)  Nearly all the (Almost every country in the EU) countries which are in the EU are (is also)part of the Schengen Area. Exceptions are the UK and Ireland. The UK prefers to be independent (from the Schengen agreement) and since the Irish economy depends more on the UK than the EU, it (Ireland decided to keep its free movement arrangement with the UK) would rather keep its free movement arrangement with the UK than join Schengen. Bulgaria, Romania and Cyprus are also (leave out) not part of the Schengen Area yet, because their external borders are not secure enough. Even though they (one would think that they refers to the sentence before, swap clauses) are not in the EU, Norway, Iceland, Switzerland and Liechtenstein are also part of the Schengen Area.

(conclusion)

[185 words]

The Schengen Agreement 2

In 1985, an agreement was signed by five of the ten member states of the European Economic Community, namely Belgium, France, Netherlands, West Germany and Luxembourg, in Schengen, near Luxembourg. This agreement, later known as the Schengen agreement, was set up to permit the free movement of persons within the Schengen area. It includes free travelling from one member state to another without the obligation to show (present a) the passport or identity card. However, there are two exceptions: Some countries, like Norway and Iceland, are not part of the EU but also signed the Schengen treaty. Others, such as the United Kingdom and Ireland, are part of the European Union, but do not belong to the Schengen area. One reason why these two countries disapproved of the agreement was that they fear (their fear for an ) illegal immigration if they opened their borders without any frontier controls. Additionally, the UK and Ireland had already signed a contract known as the Common Travel Area long before the Schengen agreement was set up. Ireland preferred to preserve its free movement arrangement with the UK and therefore is not in favour of signing any other treaties concerning border restrictions.

Schengen our version

The Schengen Agreement is a treaty signed in 1985 which permits the free movement of persons, goods and services within the Schengen area. Since 1995 there has been one single external border for all the countries which means that there are no passport controls when crossing the border between countries who signed the treaty. Countries within the Schengen Area have a common visa and asylum policy as well as an intertwined police work coordination in order to make collaboration easier when, for example, criminals cross borders and need to be tracked down. Almost all EU member states are part of the Schengen Area, with two exceptions, namely the UK and Ireland. The UK prefers to be independent from the Schengen agreement and since the Irish economy depends more on Great Britain than on the EU, Ireland decided to keep its free movement arrangement with the UK. Another reason why these two countries disapproved of the agreement was their worry for illegal immigration if they opened their borders without any frontier controls. Bulgaria, Romania and Cyprus are not part of the Schengen Area yet, because their external borders are considered not to be safe enough. In contrast to the UK and Ireland, Norway, Iceland, Switzerland and Liechtenstein are also part of the Schengen Area, even though they are not in the EU. In short, the Schengen Agreement enables EU citizens to move freely within the Schengen Area, which excludes Great Britain, Ireland, Bulgaria, Romania and Cyprus.

Schengen revised final version

The Schengen Agreement is a treaty signed in 1985 which permits free movement of persons, goods and services within the Schengen area. Since 1995 there has been one single external border for all its member countries which means that there are no passport controls when crossing the border between countries who signed the treaty. Countries within the Schengen Area pursue a common visa and asylum policy, as well as coordinated police work in order to make collaboration easier when, for example, criminals cross borders and need to be tracked down. Almost all EU member states are part of the Schengen Area, with two exceptions, namely the UK and Ireland. The UK prefers to be independent from the Schengen agreement and Ireland, depending mainly on the British economy, decided rather to keep its free movement agreement with Great Britain. Another reason why these two countries refused to sign the agreement was their preoccupation concerning illegal immigration if they opened their borders. Bulgaria, Romania and Cyprus are not part of the Schengen Area yet, because their external borders are considered not to be safe enough. In contrast to the UK and Ireland, Norway, Iceland, Switzerland and Liechtenstein are also part of the Schengen Area, even though they are not in the EU. In short, the Schengen Agreement enables EU citizens to move freely within the Schengen Area, which excludes Great Britain, Ireland, Bulgaria, Romania and Cyprus.