WHAT MUST CHANGE TO PROTECT THE EURO ?

The last article in this Blog (1) underlined two conditions to preserve the EURO from speculative attacks and ultimate destruction !

Obviously the EURO must continually and "reasonably" be protected on Foreign Exchange Markets.  However, in this changing Financial World, the Economic principles of the EUROZONE must effectively ensure the prosperity of the ZONE and at the same time deter the hopes of speculators.

These same principles apply for every country which manages its own currency.

What in particular could endanger the EUROZONE ?

1)  The blind application of every economic rule to every country in the ZONE (e.g.  The same rate of Sales tax or TVA).
2)  The use of non-standard principles when valuing long-term liabilities (e.g.  State Pension Liabilities).
3)  The non-definition of acceptable EU principles by the EUROZONE. (e.g.  What non-EU born immigrants can enter ?  What is the definition of a "migrant" in the EU ?)

These are just evident examples of problems   which  need to be addressed, but when will they be programmed to take place ?   Discussions of basic EU principles are urgently necessary, even if some may not always directly concern the EUROZONE and its EURO. 

Finally, would the reactions of the EUROZONE not be more effective if it had a permanent "Board of Directors" ?  Would this not avoid having to convene very hastily, all 19 heads of State so often, as was the case recently with the "Grexit" meetings ?


(1)  Will the EURO last forever ?  It could....but.
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