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Euro under Pressure

Thursday, August 30, 2012 @ 09:08 AM
Dr Ioannis Syrigos

I am not an economist, but common sense dictates that things are not going well in the Euro area. The inflatable money is gathered in the hands of a few, the gap between rich and poor is getting wider and wider and the financial markets are behaving like crazy.

Even the countries that are supposedly doing well, in reality either they don’t or they are not as much affected yet.

Major economists all over the world ring the bells of a major financial destruction.

It looks like we are on the verge of a big change worldwide. What this change would be, nobody knows for sure, but we have clues.

One thing that I would safely say is that Euro won’t last for long. I would expect a few countries to get out of the Eurozone in the 1-2 years to follow and a big financial crisis to take place.

Financial union of European countries has been done in the wrong way. You cannot unite different things unless you first create some common ground between them. And this hasn’t happened in Europe. Many have predicted the future of Euro well before the European Union started.

Is this going to be for better or for worse? We will see …

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