The Fallout from a Potential Eurozone Breakup

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The Fallout From a Potential Eurozone Breakup Executive Summary: Today, the global economic crisis is centered around the struggles of the European Union to protect its very existence. At the start of its second decade of existence, the common currency form of the Euro, shared by 17 of the European Union's 27 member states, is imperiled by the threat that some of its struggling member might depart from the Eurozone. With a particular focus on Greece, which balanced the question of its status in the Eurozone over the course of its recent elections, the discussion here considers the possible consequences of a breakup of the Eurozone. By and large, the discussion will demonstrate that the consequences would be catastrophic for the global community as a whole. The discussion considers a brief history of globalization and, subsequently, a concise history of the institution of the Euro itself. Within the context of this history, the discussion will note that substantial evidence existing the foreshadow the forces that are now threatening to dismantle the singular monetary currency of Europe. Among those forces, the research addresses the reality that the differently scaled economies of Europe have long struggled to find common currency ground, and always with little success. The findings also suggest that an era of unbridled borrowing and budget deficit spiraling have now produced a scenario where the Eurozone appears on the brink of dismantling. Were such an event to occur,

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