Quote:
Originally Posted by JFK
There is nothing wrong with the concept, the implementation however went wrong. The hundreds of years of conflicts between various ethnic factions, still to this day, rear their ugly heads.  |
There is.
The concept was to join all the nations of Europe under one governing body. The people of the different countries would never stand for that. They wanted a single currency, yet knew individual countries would no give up control on their economies. Without a single control of the currency, countries could borrow as they wished. The banks thought the richer Nations would under right the debt. Now we will see if Germans will repay the debts of Greece, Spain and Italy.
The Euro is doomed. Yet still the politicos will not accept it and o the route they have to. For some countries to get out and go back to their own currency. They will have to and it will happen, but still they will not face the truth. You can't link the economies of countries like Greece and Portugal to Germany and France. The UK was wise enough to stay out, or the politicians knew the electorate would never stand for it.