Over
the last couple of years, the Euro has become more of a political
device than an economic requirement. Dreamt up and managed by the
French, with the Germans called on to foot the bills as they come due
with each country-member’s fiscal mismanagement of the European
Community’s monetary debacles.
Yes,
the Euro makes it easy to travel about among member countries because
it eliminates the need to convert local currencies. But each
country goes its own economic way with its own ingrained cultural
and spending habits.
The
Euro has not been able to change those habits and, therefore, problems
persist. (See the Earl J. Weinreb NewsHole® comments and
@BusinessNewshole at Twitter.)
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