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The euro plunged further into crisis yesterday as investors sold off Spanish, Portuguese and Belgian government bonds in record numbers on renewed fears that those nations would follow Greece and Ireland into the financial emergency ward, undermining confidence in the single currency.
Originally posted by davespanners
reply to post by Nammu
This is a genuine question as my understanding of economics is woeful.
Would any of these countries actually be in a better position if they didn't have the Euro? After all isn't this problem global and effecting the dollar to and more or less every currency?
Wouldn't Greece for example be in just as much trouble if the still had Drachmas?
Originally posted by thoughtsfull
I still lean on the side that this has been orchestrated to create a more powerful union with each failing state that is bailed out ceding more power to the union to survive. Once the central bank controls budgets and economies the remaining power from those nations will follow
It was the only way to get irelands soverinty, so who can say it was not done on purpose.