Is there a future for the eurozone? - European Union

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 The European Central Bank in Frankfurt. Photo: Crivin's under CC License.

Many a swansong on the euro and the eurozone has been sung during the last months. Some economists and politicians prophesy an end of the euro(zone) and plead for the reintroduction of national currencies (or, at least for a split of the Eurozone allowing the weaker countries to devaluate their currencies which, in turn, could boost their exports). But, also, many European citizens (especially of economically stronger countries) want to get rid of the euro and of the discipline of the eurozone they blame for hard-hitting cutbacks. They want „their own money back“ and they resent making sacrifices for their weaker and „wasteful“ European brothers and sisters. For some the end of the eurozone and even the European Union is nearby. In the meantime, Estonia has happily entered the eurozone and European leaders and ministers of finance quarrel passionately and work hard to find a solution. Often in the past, Europe was at its best and most creative under the most difficult and threatening circumstances. Will the euro(zone) survive? Are the measures taken so far the right ones and what else needs to be done?

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