Friday, August 5, 2011

Can someone describe to me what the Euro crisis is currently?

Simple way to look at it is that when euro was introduced some europeans, not all, thought that they boost their currency by perhaps uniting european countries into one in terms of currency. This was to allow stability among trading within the euro zone and provide stronger currency that can withstand pegging. However, they didn't account the fact that when weaker economies struggle then euro will struggle as well. Germans are very conservative in their economy, but troubling nations that you mentioned are not. Easy way to compare is to the us. If a half of our states fail, it will drag our currency down and our economy as well. However, at least we have much synchronized economy so we can manage better as a Nation. For europeans, they are still not same country even if there is a european union. So when those three messed things up others not too happy to help. Heck. Think about us. When we supposedly bailed banks out people were not happy. Would you be happy if you have to bail out canada?

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