Home Economy It Will Survive!

It Will Survive!

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Just as news hits the headlines that Greece hasn’t met its terms set for the first bail out tranche, CNN Money has run an article saying that ‘Economists actually believe the euro will survive.’ Just as the protests in Greece and Wall Street continue, in a not very elaborate article, apparently 17 of 22 economists surveyed, believe the euro will survive even though the majority think Greece will default by the end of the year.

Good news, slightly vague, but good nontheless. Meanwhile, British PM David Cameron, has delivered an address trying to illuminate, behind the rhetoric, why the euro and ultimately EU must pull together and survive – “40% of our exports go to the eurozone,” so it’s important for Britain that it maintains financial health. At the same time, the BBC interviewed a selection of Germans trying to see where the public barometer is for the eurozone – unsurprisingly, many were angry and wanted debtor nations like Greece cut out of the picture, but several echoed the sentiment that fiscal solidarity and union will ultimately benefit the nation as a whole.

It’s interesting to note that while the press is never short of detailed analysis of how and why the eurozone is struggling, there is very little on what the actual benefits are to member nations for achieving a more settled, cohesive monetary union. One German pensioner argued in an interview for the BBC that “it was much easier and cheaper to send money to my Granddaughter in London than it was before…”. Politicians, who are currently struggling to shore up confidence in the public and marketplace, might do well to outline what exactly it means for Europe to try to pull out of this mess.

 
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William R. Feins , freelance journalist from London, UK; he received his B.A. degree in Economics and his Masters in Sociology. William has always been interested in the mechanics of business and the inspiration of original thinkers, and firmly believes that the former can’t succeed without the latter. In his spare time, he enjoys the ridiculous spectacle of watching table tennis on a big screen (preferably at a pub) and reading weighty tomes about World War II.

17 COMMENTS

  1. it will survive definitely, as next year will be euro 2012 in ukraine and poland will come. this is just a temporary slump and after a while the EU will gain power one more time!!

     
  2. Sudden suprises, all self interests for the survival even by scaping and talking , great gain to those who know to predict. Alternatives and adjustment with bilateral relationship for the self interests and convenience, but will the poor people find a means to survival not only at the old age but right now at their blooming stage?

     
  3. I’m not surprised that there are others in Europe who are against bailing out Greece. There are those in Greece who want to go back to the Drachma instead of the Euro, I’m not surprised about that either. Everyone will have a different opinion on this, really. It’s so difficult to navigate the situation, I think.

     
  4. It is very interesting to know the current situation of Europe is also affected by the global crisis. Though, the politicians within the government are struggling to make the economy improves within any means by using different method to improve it. This require both the cooperation of the people, not only relying on the government alone.

     
  5. I try not to get into things like this. I know it is important to know what is going on in other countries but I seem to not follow this. The situations are very difficult to navigate, very well said. But this is a good article!

     
  6. Im so scared about these times of crisis, I think they’re going to get alot worse. If i were in Europe I would definately want to kick Greece off of the Euro, give them their own currency. I love the article, the description is great.

     
  7. yes we might think that Europe is facing severe financial problems but I don’t think it is unsolvable and unmanageable. Unification and more strength to battle this crisis will help them back into the gold standard.

     
  8. Situations like this one can really make an individual wonder what is going to happen in the near future. I agree with the question why bail out Greece. I do not see the middle class income people looking at this positively. Somewhere along the line, policies would have to change for more support for its own people.

     
  9. Well, this isn’t all too surprising. In this economic situation, even the first world countries are struggling. It is therefore an eye opener for all other big nations out there that there is instability out there.

     
  10. This article is very informative. However, it is a headache for me to follow politics. Too complicated, I think.

    As I observe this far, in every country, always, people with low to middle class income got to be the victim of politics decisions.

     
  11. It’s good to know that despite all the hardships a country is encountering,there’s still something that is resolving. Honestly,I’m really not into these cases. It’s complicated when we talk about economic situations.

     
  12. It’s scary to think that Euro will not be able to carry through as despite what’s been undertaken by the European nations. As we are much concern for its future, the present condition seems convincing enough to believe it will really survive. The focus should be on the present and plans on the future must put impact on the social and political stability of nations concern.

     
  13. i guess its not only those in the third world countries who suffered and suffers the same thing like of that happening in america or in any other parts of the world. the crisis when it comes to monetary problems when it hits really affects people living in it specially those who do not have regular jobs for example. well, problems like this will challenge not only the government but every citizen to have faith,believe in God, that time will come everyone will surpass this all.

     
  14. Even today in other countries, situations like this is happening. We are not surprise because in our country (Philippines) our peso is struggling. But we hope this will not continue because other currencies will be affected.

     
  15. I think global crises is really happening around the world. Even the most powerful continents do experience it like America and Europe. Time can only tell when will it end but I am sure diplomats are making some plans on how to solve and survive with it.

     
  16. Hello
    I do not know much about this. As per article it-will-survive and whatever happen to EURO i know a bit that looking to the world economy it can be said that the future is euro. Moreover now a days many countries are using EURO as there exchange currencies as there main currency.

     
  17. Well said! What I believe is more than any others Economists can analyse such situations better therefore I would agree with them. Anyway in dynamic environment anything can happen. Let us hope for the best!

     

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