I was recently on a panel disucssing the topic Does the Eurozone have a future?
My answer is that it does, 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 drachma 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 ountries that have adopted it - so it is not the failure some claim that it is. Anyhow below is a video of the discussion:
My answer is that it does, 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 drachma 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 ountries that have adopted it - so it is not the failure some claim that it is. Anyhow below is a video of the discussion:
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