The End Of The Euro?
Is it going to be bye bye Euro?
Europe is dying, it is on the very brink of its own existence, at least as a financially conjoined union of different states that is. The eyes of the world are on this odd collection of neighbouring countries and their financial situation that is tumbling rapidly away from control.
The Eurozone, those nations in the European Union that use the Euro currency are in a financial turgid turmoil with it’s very future in jeopardy. Not only with the crumble of the Greek economy and that historic nations uncertain political future and membership of the Euro. But other nations are in similar situations, Ireland is like a swam in sludge, calm and serine on the outside, yet peddling like mad under the surface. Italy is far from a stable economy, Spain and Portugal are teetering on the abyss at this very moment. What the future will hold is anyone’s guess, as is which country will be the next to falter and inwardly collapse.
The German powerhouse of financial stability, combined with the deep pockets of the IMF proved they are in control by halting democracy in other nations. Greek PM George Papandreou told the world he wanted the Greek people in a referendum to decide on the latest austerity measures and cuts demanded by the EU for the next bailout. Germany said no, said no and thus, no referendum. Now it looks as though he’ll have to resign and a coalition formed, yet the main parties have different views of how to raise the country out of the financial mire. Bringing back the Drachma, may be difficult, but it may very well be the only option - but what then, not for the Greeks, but for the rest of Europe in the Euro zone. Is this dramatic fall the final death knell of a currency experiment that has failed in spectacular form?
I would expect I’m not the first, nor the only person that thinks this could be the case. How can a single currency work in ten or so different countries’ all with different finance minsters, advisors, political situations, inflations and monetary polices? It defies normal working practises and knowledge, many are surprised it’s even got this far. 
Barack Obama came over for the latest summit to try and add a little security and urgency to the successful resolution to financial fluctuation of balance and had a crash course in European politics. I get the impression he was glad to get back over that side of the pond, for fast moving decision making isn’t a specialty of European leaders are known for.
Continued on the next page
Follow Technorati