To be quite clear, in the current critical circumstances of the EURO, the real question is "Which countries really still want the EURO ?"
There are at present 27 countries in the EU. Of these 17 countries have the EURO as their National currency.
Denmark and the United Kingdom have a recognised right in the EU Treaty not to be obliged to adopt the EURO !!!
This leaves 8 countries which are expected to adopt the EURO "ultimately" . When ? That is "The Question" !!! There is no fixed date for these 8 countries, which are;
Sweden
Latvia
Lithuania
Poland
Czech Republic
Hungary
Romania
Bulgaria.
However, with the current EUROZONE problems, smaller countries are wary about joining and adpoting the EURO. A typical example is Bulgaria; its currency, the Lev, is solid just like its economy !!!
Lithuania and Latvia are two other countries which have adopted a "wait and see" policy before joining the EURO. Poland has simply delayed any final decision about adopting the EURO.
The EU, and the World in general, is facing a difficult economic period. Smaller countries want to avoid being sucked into the current problems provoked by Italy and Spain, not to mention Greece !!! This is understandable !!!
The remedies at present proposed by Mario Draghi are purely financial !!! They do nothing to solve the real basic problem which is "economic".
.
No comments:
Post a Comment