Posted by Allison on 14 November 2011, 15:28
This is a key area to write about at the moment, because with each passing day it seems as if it could be the moment that we pass the point of no return with the single currency. Many believe we may already have passed that point, and it is just a matter of time until the single currency dies a natural death.
It has been said in the past that a single currency zone covering many countries in Europe would only work during good times. We have had those good times but they have now been left behind by quite a distance. We now wonder whether there is any way out of the mire the currency has been left in.
But in essence the Euro is just a casualty of the decision – or lack of them – that have led the eurozone into the situation it now finds itself in. Many are speculating on the state of the countries in the zone and how they can possibly get out of a bad situation. One thing is now clear – there are no good outcomes, there are only differing degrees of disaster that can occur. Many would say that the countries in trouble would do well to leave the eurozone and sort out the problems they have been left with.
In any event the Euro is hanging on with regard to the currency converter. It rises and falls a little against all kinds of other currencies, but one wonders how much longer this painful situation will carry on. It has become a situation where you read the latest developments – or lack of them – on a daily basis and wonder what tomorrow will bring. Many people want to get rid of the single currency, and it would seem as if the politicians who brought it in to begin with are the only ones struggling to keep it.
We shall be continuing to watch so we are ready with our report when the currency finally does die a painful death – as we fear it certainly will.