B1 Intermediate UK 54 Folder Collection
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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.
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Is the Euro Doomed?

54 Folder Collection
黃艾瑄 published on August 30, 2017    黃艾瑄 translated    Katharina Yang reviewed
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