The introduction of the Eurozone and the single currency was an attempt to remove the uncertainty of floating exchange rates which are destabilizing. This created a stable environment for EU businesses and remove the need for expensive foreign curren
The policies that the northern Eurozone and IMF wanted them to pursue were contractionary i.e. cutting Gov. spending and increasing taxation. This would not only make the government unpopular but also mean that the economy slumps with no stimulation
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