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The Euro - A Big Error (Part 4)

Published: May 31, 2012; 10:47 · (Vindobona)

The common currency did not create convergence, but widened the gap between Northern and Southern Eurozone member states.

The Euro - A Big Error (Part 4) / Picture: © European Commission

For countries like Greece, Spain, Portugal or Italy, there is no other reasonable solution than the return to their old currencies. These countries need to become competitive again as soon as possible.

Of course, Greece could downsize its economy through a recession. Actually, this is currently happening in Greece. And this is highly dangerous. Since 2008, the country experiences…

This article includes a total of 634 words.

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