Just a question, and not of the sort that Google seems able to answer
clearly, though
http://blogs.ft.com/maverecon/2009/01/sovereign-default-in-the-eurozone-and-the-breakup-of-the-eurozone-sloppy-thinking-101/#axzz1ShRuP9bH
does cover some of the ground. That article however looks very
biased, and odd in places, at least to my eyes.
If a large company, eg. BP, were to go bust, it would be bad for the
UK economy, but we wouldn't have to abolish the pound.
Why is it that if eg. Greece or Ireland go bust they say it will
destroy the Euro, or those countries with bust governments will have
to stop using the Euro?
I thought at one time it was to do with interest rates, but it seems
as though different countries are already working with different
interest rates, so it's harder to follow how this is related to the problem.
Anyone understand such matters?
J
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