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Old 07-30-2011, 08:54 AM   #141
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Default Re: Credit crisis in Greece, others to follow...?

I would say that the EU is actually a good thing to have. On the other hand, EMU is beginning to look like a mistake. A single currency might be possible for s small group of very similar countries. Unfortunately, EMU countries are so different from each other. Greece, Estonia, Finland, Portugal to just name a few. A single currency might work well for a while, when we are not suffering from recession and all the member countries are doing okay.

Recent events have shown what happens when problems arise. It doesn't look good at all. My guess is that 5 years from now, we still have EMU but a lot less countries are a part of it than now.
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