Riots in Greece were never about the money situation (as reported in UK - my mum told me) but about the killing of a teen by a policeman in Dec 2008 - they rioted on the anniversary. Any excuse for the young hooligans to wear a hoody and throw petrol bombs in Athens!
Thing is with the Euro there are rules about how to get into Europe then how to qualify to get the Euro - however as Greece/Spain/Italy/Ireland have now hugely gone against those original rules how do you get kicked out?
Really once your in thats it. Greece cannot come out their new currency would tank due to the Govt Debt but as its got the Euro the whole of Europe is helping sure the Euro might take a slight wobble for Greece & the others but not that much.
The drawbacks are say if ...
Thing is with the Euro there are rules about how to get into Europe then how to qualify to get the Euro - however as Greece/Spain/Italy/Ireland have now hugely gone against those original rules how do you get kicked out?
Really once your in thats it. Greece cannot come out their new currency would tank due to the Govt Debt but as its got the Euro the whole of Europe is helping sure the Euro might take a slight wobble for Greece & the others but not that much.
The drawbacks are say if in Spain you desperatly need an interest rate cut but in Germany you need an interest rate hike its then always going to go to Germany due to voting rights.
In the UK its the same we really need different interest rates in different areas to meet their needs but thats not possible - so really you want the area to be as small as possible thus the interest rate will meet the needs of the vast majority of the populus.