This euro is destroying the European dream

“For struggling economies, the likes of Portugal or Spain, leaving the euro would be a calamity. They want to stay in for the same reason even Syriza is trying to avoid a Grexit: the costs of attempting to leave and revert to a past currency are, say the experts, guaranteed to spell ruin.

As for the rich countries, the euro has been a marvel. Germany gets to trade in a currency that is sufficiently weak to make its exports internationally competitive, all the while selling its cars and washing machines into a captive market of near-neighbours who cannot devalue their own currencies against it.”

http://www.theguardian.com/commentisfree/2015/jul/03/greece-referendum-euro-destroying-european-dream-deficit-fetishists

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