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Why has the Eurozone been such a failure ?


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Old 31-12-2016, 14:23
onecitizen
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Yet none of those countries want to leave the Euro or the EU. Maybe they understand their situation there better than you?
So you have no sympathy for the people of southern Europe who are suffering?
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Old 31-12-2016, 14:30
Eurostar
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So you have no sympathy for the people of southern Europe who are suffering?
As are southern European countries like Serbia, Bosnia, Albania, Macedonia and Montenegro who are outside the EU and the Eurozone.....
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Old 31-12-2016, 14:31
onecitizen
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I suspect the economies of southern Europe would be in deep trouble anyway with or without any EU or Euro currency. It's not as if they were a big success before they joined the Eurozone and the currency brought on major recession : they were an accident waiting to happen.
Possibility but that is speculation, the facts show many nations have suffered terribly inside the Euro. Others have done much better but the Euro has been a failure because it should work for all the nations involved otherwise what's the point in it ?
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Old 31-12-2016, 14:31
ireland2day
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Peter Oborne in the Mail today is predicting the collapse of the eurozone next year, Italy, Greece, Spain, Cyrpus to go back to their former currencies.

Hysterical stuff, what is it with so many British journalists, they haven't a clue when it comes to the eurozone.

Perhaps Peter Oborne should atleast look at the logistics of leaving the euro and how 'close' Greece came apparently over the years and still remains a member of the euro.

This time next year Italy sill still be using the euro Mr Oborne.
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Old 31-12-2016, 14:33
onecitizen
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As are southern European countries like Serbia, Bosnia, Albania, Macedonia and Montenegro who are outside the EU and the Eurozone.....
This thread is about the Eurozone failure.
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Old 31-12-2016, 14:46
Eurostar
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This thread is about the Eurozone failure.
To which I'm pointing out that the countries of southern Europe who are outside the EU and Eurozone are faring just as badly. According to people here, the magic panacea to all your problems is having the freedom to devalue your currency and yet we can see this isn't making a blind bit of difference to the other southern European countries and they are seeing just as much youth unemployment and emigration as anyone else.
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Old 31-12-2016, 14:48
Mr Oleo Strut
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Possibility but that is speculation, the facts show many nations have suffered terribly inside the Euro. Others have done much better but the Euro has been a failure because it should work for all the nations involved otherwise what's the point in it ?
You are peddling nonsense derived from the selective use of facts which suit you and your anti-EU rhetoric. Were you educated at all, or do you just accept whatever the right-wing media throw at you? The EU and NATO have given Europe and the world 70+ years of relative peace, stability, harmony and growth. That cannot be denied, whatever biased sources you choose to believe. The Euro is an evolving currency still on its infancy and will improve in time. In the meantime you stick with your prejudices and ignorance, you are welcome to them. Happy New Year!
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Old 31-12-2016, 15:09
niceguy1966
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So you have no sympathy for the people of southern Europe who are suffering?
I have sympathy for them, but I'm not trying to shoehorn my own political views onto them to assume I know what caused their problems or what they should do to make things better.

They are in a better position to understand these points.
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Old 31-12-2016, 15:19
Eurostar
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I have sympathy for them, but I'm not trying to shoehorn my own political views onto them to assume I know what caused their problems or what they should do to make things better.

They are in a better position to understand these points.
If the EU or Eurozone was the problem, then their neighbouring countries in southern Europe who are outside both bodies should be faring far better but that is not the case at all.
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Old 31-12-2016, 15:23
niceguy1966
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Possibility but that is speculation, the facts show many nations have suffered terribly inside the Euro. Others have done much better but the Euro has been a failure because it should work for all the nations involved otherwise what's the point in it ?
What about the nations that are suffering but are outside the euro zone, and even outside the eu?

Imposing your own political bias on world events achieves nothing.
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Old 31-12-2016, 15:24
niceguy1966
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If the EU or Eurozone was the problem, then their neighbouring countries in southern Europe who are outside both bodies should be faring far better but that is not the case at all.
I agree!
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Old 31-12-2016, 15:30
jmclaugh
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The Euro was adopted for political not economic reasons. The only benefit it has is for consumers when travelling within the Eurozone and strong economies like Germany which is largely an economy based on exports.
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Old 31-12-2016, 15:33
Cheetah666
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The Euro was adopted for political not economic reasons. The only benefit it has is for consumers when travelling within the Eurozone and strong economies like Germany which is largely an economy based on exports.
No, it benefits exporters and importers in every EZ country not to have to worry about currency fluctuations.
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Old 31-12-2016, 15:54
Aurora13
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Peter Oborne in the Mail today is predicting the collapse of the eurozone next year, Italy, Greece, Spain, Cyrpus to go back to their former currencies.

Hysterical stuff, what is it with so many British journalists, they haven't a clue when it comes to the eurozone.

Perhaps Peter Oborne should atleast look at the logistics of leaving the euro and how 'close' Greece came apparently over the years and still remains a member of the euro.

This time next year Italy sill still be using the euro Mr Oborne.
He's been predicting it every year since at least 2008.
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Old 31-12-2016, 15:54
jmclaugh
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No, it benefits exporters and importers in every EZ country not to have to worry about currency fluctuations.
Well yes for imports/exports within its 19 members, for the other 9 members of the EU and the rest of the world the EZ manages very well coping with currency fluctuations for imports/exports.
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Old 31-12-2016, 15:55
Cheetah666
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Well yes for imports/exports within its 19 members, for the other 9 members of the EU and the rest of the world it manages very well coping with currency fluctuations for imports/exports.
Does it? How come people on here are forever moaning that the UK has a trade deficit with the EU then?
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Old 31-12-2016, 15:56
alan29
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So you have no sympathy for the people of southern Europe who are suffering?
They need to elect better politicians, root out the corruption and in the case of Greece start paying their taxes.
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Old 31-12-2016, 16:06
jmclaugh
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Does it? How come people on here are forever moaning that the UK has a trade deficit with the EU then?
Which has nowt to do with the point I was making.
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Old 31-12-2016, 16:56
Cheetah666
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Which has nowt to do with the point I was making.
I misread your post. Having read it again, I would have to ask why Irish mushroom farmers are going out of business since the price of sterling fell. They're clearly not managing perfectly well with currency fluctuations.
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Old 31-12-2016, 17:59
onecitizen
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You are peddling nonsense derived from the selective use of facts which suit you and your anti-EU rhetoric. Were you educated at all, or do you just accept whatever the right-wing media throw at you? The EU and NATO have given Europe and the world 70+ years of relative peace, stability, harmony and growth. That cannot be denied, whatever biased sources you choose to believe. The Euro is an evolving currency still on its infancy and will improve in time. In the meantime you stick with your prejudices and ignorance, you are welcome to them. Happy New Year!
Beam me up snotty
Greece Spain and Italy have prospered due to their membership of the Euro, of course they have.
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Old 31-12-2016, 18:31
Mr Oleo Strut
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He's been predicting it every year since at least 2008.
He's paid to say it. Pay him enough and he'd say you should have won Strictly. Happy New Year!
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Old 31-12-2016, 18:35
Mr Oleo Strut
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Beam me up snotty
Greece Spain and Italy have prospered due to their membership of the Euro, of course they have.
They were more than a bit shaky long before the Euro. Trouble is they wouldn't take their medicine or behave themselves, unlike the UK which is preparing to jump off Beachy Head. Happy New Year!
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Old 31-12-2016, 18:53
TelevisionUser
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Why has the Eurozone been such a failure ?

Extreme Brexit Europhobes would love the euro currency to fail but the fallout would also take down the UK too since it is the EU's largest trading partner. The good news is that France and Germany will not allow the euro to fail.

There is one thing though. The euro provides a salutary warning about putting politics before economics. When the euro was conceived, southern European nations were allowed in before their economies were properly restructured and the intrinsic weakness of those economies was exposed in the 2008 economic crash.

Similarly, if the UK puts politics (a hard Brexit) above economics then that will also surely end in tears.
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Old 31-12-2016, 19:29
Paul_Culloty
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As with the dollar, fiscal union and Eurobonds should have been accepted as core mechanisms before the currency was introduced - after all, both California and New York City have experienced similar economic crises to Greece, but transfers from Washington covered the deficits.
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Old 31-12-2016, 19:34
moox
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Similarly, if the UK puts politics (a hard Brexit) above economics then that will also surely end in tears.
Not to mention that the UK hardly escaped unscathed from the 2008 crisis, so I'm not sure why some people think that we are superior to "Europe". Years of little or no banking regulation, cheering on debt and the worship of finance above all other industries didn't put us in a good position.

At least when the banks all move to Ireland or Frankfurt, we won't have any to bail out anymore... Shame about the loss of jobs and tax revenue though
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