http://dzale.hubpages.com/hub/The-colla … an-economy
I wrote today a little hub on this topic.
I am not sure what you are hoping to hear in answer to this question but the present predicament of countries such as Greece in particular but also Italy and Spain was always so predictable from the moment the Euro idea was conceived. These countries never had the financial clout or stability of the likes of Germany and the fluctuating value of the Drachma, Lira and Peseta was clear testimony in that respect. Now linked by the Central European Bank to the economy of Germany and even France, these countries are dragging down their more stable cohorts, rather than the other way around. The Euro was doomed to failure from the start.
The only good point is that Britain is not a part of it - yet!
In a nutshell the Euro is turning out to be a failed experiment. If it weren't for Germany's financial power it would have already collapsed. But the German people have just about had it with the way things are.
I believe that the next German election will be won or lost on the idea of getting out of the Euro.
Even the austerity measures that have been put in place are doing very little to rescue the falling nations. Greece doesn't have a prayer of ever paying off its debt. Italy has been a shambles for decades and is loosing what little grip it has.
Spain and Ireland aren't part of the Euro but both are in horrible shape. All of the UK is crashing for that matter.
America will either wake up or go the way of the USSR.
In short I am glad that I am as old as I am because the outlook for the world as we know it is very bleak on pretty much every front.
I'll be very brief.
The whole European Union is in collapse!
If the exit of Greece from the Euro Zone is required, this will be the beginning of the end.
After Greece, will be Portugal, Ireland, Italy, Spain....
In my opinion, there are only two solutions:
1 - On one hand, start to produce a greater amount of money. And, consequently, increase the amount of aid;
2 - On the other hand, excuse the countries of the existing debts and start again from zero.
You could also see my Hub about The Crisis of the Euro.
http://soaresjcsl.hubpages.com/hub/The- … f-the-Euro
A clear and understandable explanation of the current European economical situation. read more
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