Why Euro Will Survive?

755 Words Oct 20th, 2014 4 Pages
Why Euro will survive Issues in relation to Euro financial crisis have been essential in generation of intriguing questions of whether the common currency will have the substantial strength and competence towards surviving and overcoming the threat. Euro zone members should focus on striving to hold things together and weather the storm with reference to recent financial challenges in association with the common currency. Eurozone continues to face diverse economic as well as financial problems. In the first instance, the region faces fiscal crisis, which has been imminent in Greece and other nations such as Ireland. In addition, the region has been facing competitiveness crisis, long evident in the large current account deficits, and larger current account imbalances between European Union. In the third instance, the region faces banking crisis, which unfolded in Ireland prior to becoming acute in Spain (Fred 3). Nevertheless, the region continues to demonstrate that it can and will resolve each successive stage of the crisis by cooperating as well as sharing decision-making powers. In addition, the members of the union have been on the forefront in the generation of continent-wide institutions as well as building of substantial financial firewall to prevent debt problems from spreading. The region is creating a banking union and efficiency partial fiscal union. From this perspective, the common currency and the entire project of European integration will survive as well…
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