End of the Euro near?
This is quite a shocking development. British economists are advising Greece to drop the Euro and go back to the Drachma. Spain may be forced follow suit and this could mean that the European Single Currency ceases to exist before long.
THE Greek government has been advised by British economists to leave the euro and default on its €300 billion (£255 billion) debt to save its economy.
The Centre for Economics and Business Research (CEBR), a London-based consultancy, has warned Greek ministers they will be unable to escape their debt trap without devaluing their own currency to boost exports. The only way this can happen is if Greece returns to its own currency.
business.timesonline.co.uk/tol/business/economics/article7140270.ece
“Could this be the last weekend of the single currency? Quite possibly, yes.” says Doug McWilliams, chief executive of the CEBR.
With Angela Merkel's comments causing the Euro to crash, one would be forgiven for thinking that there is a plan in place to kill the Euro.
http://business.timesonline.co.uk/tol/business/economics/article7130448.ece
THE Greek government has been advised by British economists to leave the euro and default on its €300 billion (£255 billion) debt to save its economy.
The Centre for Economics and Business Research (CEBR), a London-based consultancy, has warned Greek ministers they will be unable to escape their debt trap without devaluing their own currency to boost exports. The only way this can happen is if Greece returns to its own currency.
business.timesonline.co.uk/tol/business/economics/article7140270.ece
“Could this be the last weekend of the single currency? Quite possibly, yes.” says Doug McWilliams, chief executive of the CEBR.
With Angela Merkel's comments causing the Euro to crash, one would be forgiven for thinking that there is a plan in place to kill the Euro.
http://business.timesonline.co.uk/tol/business/economics/article7130448.ece