Does The Eurozone Have A Future?

I was recently on a panel discussing the topic Does the Eurozone have a future? My answer is that is done, it was not just a political project but also an economic project designed to complement the Single Market. To me, it is a relatively sound currency and much better for countries like Italy which previously had the Lira, the Greeks that had a crappy Drachman and the Spanish which previously had the peseta. To me, the Euro has been blamed for things where it is not the cause of the problem but rather the scapegoat. Why did Greece get into so much difficulty - well basically because it had a poor government that ran huge deficits and borrowed lots of money to fund lots of useless jobs in the public sector? The Euro has brought many benefits for business and would still have large majorities voting to keep it in the 19 member countries that have adopted it - so it is not the failure some claim that it is. Anyhow below is a video of the discussion:

Video length: 01:20:58

Disclosure: None.

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.