Only way to fix EURO is take Greece out!

Discussion in 'Economics' started by bat1, May 14, 2010.

  1. A nation's currency is also backed by its ability to pay its debt. If a particular nation becomes unable or difficult to pay its obligations......then its currency will suffer devaluation. You must understand this.

    This is what is happening in Greece and why the Euro is being affected by it. If all EU members were using different currencies this would have no effect on them, but since they all share the same currency hammered by the greek crisis.....there is no scape.

    Cant explain it better than that
    #21     May 17, 2010

  2. You hit the head right on the nail..............
    #22     May 17, 2010
  3. *****

    one other smaller matter is the EU interest rate is still 1% and if lowered would weaken
    the € a bit more

    was thinking of the Province of Alberta, Canada issuing its own script during the GD
    and discovered such issues were common:
    maybe that's an option for Greece and the other PIIGS
    #23     May 17, 2010