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  • Europe's common currency, the Euro, has been treating death for years.

  • Now, with UK heading for European exit, Greece in perpetual crisis,

  • and economic discontent fuelling nationalism across the continent.

  • Can the Europe dwell the most ambitious financial experiment survive?

  • Here's the situation,

  • voters are fed up with economic failing of some EU countries and the lost of control to Brussels.

  • Withdraw from the Euro has become a rallying cry for nationalist movements

  • including Italy's five star movement, and Marine Le Pen's national front in France.

  • Meanwhile, the Greek tragedy continues, government is struggling to meet critics' demands

  • to keep the buyout funds flowing.

  • Germany insisted for more austerity is left lingering,

  • since the Greece might have to leave the currency union sooner or later.

  • Adding to the problem is the Europe area slow recovery from its worst ever recession.

  • Unemployment for people under 25 has been stocked above 40% in Greece and Spain,

  • creating what some called a Lost generation of European youth.

  • Here's the argument,

  • the global financial crisis exposed the flaws in the common currency.

  • When it was created by 11 countries in 1999, they agreed to share central bank

  • and set an interest rates,

  • but only a limited unified the approach the government spending or bank regulations.

  • So when banks began to wobble and countries like Greece and Spain were push to the brink,

  • the common currency admit they would tight to the Europe, leaving them with little option,

  • but to accept massive government buyout in the Europe area.

  • Germany, as the area's biggest economy, paid the lion share.

  • Since then, Europe area leader said that strengthen the rule but to make the common currency more resilient.

  • They argued even if Greece falls out of the block, the Europe will survive.

  • European leaders have showed in time and time again,

  • they will do whatever it takes to keep the currency going.

  • And then, there's the politics, the Europe unlike other currency is more than means of payment,

  • it's a symbol of Europe aspiration to unite in piece of prosperity.

  • But some business leaders, analysts and politicians suggest

  • the currency structure deficiency means its demise is just a matter of time.

Europe's common currency, the Euro, has been treating death for years.

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Is the Euro Doomed?

  • 30 7
    黃艾瑄 posted on 2017/08/30
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