It seems like growing up pains that the Euro is going through.
The mother currency of seventeen nations needs to be fiscally
supported by all the seventeen nations, and it also needs a
period of integration.
It formed from the Deutsche Mark, but the Bundesbank cannot
underwrite the finances of nations other then Germany.
Whereas the GDP of Greece and Portugal was lower, and their
people were happy using their own currencies, joining the
nations like France and Germany has brought some strenghts
but also questions.
Like all players cannot be equal in a team, so is the fate of
the seventeen nations. But if they all support the Euro, and
there is tolerance of different pricing within the European
Union, and they all feed from the positive points of each of
the respective economies, I feel there is a chance of greater
strength for Europe and the Euro, which will probably grow
up to be a major currency in the sense of a reserve currency,
together with the U.S. Dollar, and in twenty years the Ruble
Till my next blog.