The euro crisis, a euro victory ?

Ok, I admit my title is a bit provocative, as the euro crisis is not really a sign that the euro is a victory…

But, let’s consider it : this latest crisis, triggered by a small country accounting for only about 3% of all the eurozone GDP (Greece for those who didn’t kept up) – and the help of doubts over Portugal and Spain economies ; is becoming big enough to afraid investors and economist all over the world, the IMF getting in the rescue plan. Even President Obama was worried at some point.

So, seeing that, it’s quite clear that the European currency has became of great importance in the economic and financial world. That’s where the victory is : as the very moment when it is in danger, unfortunately, we can see that the very ambitions that existed when the euro was created became reality, at least partially : the European economy is of great importance on the global scale, the European countries are now, de facto, interdependent, …

We obviously have to take on some big action to make sure all of this is not lost but continue to grow in strength, but let’s remember that the global impact of this crisis is a clear signal of what European economy is to the world.


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