Recently alerted the markets by declaring that the common European currency was

Speech frequencies and rečičiek, analysis and divination, hysteria and even more hysteria about a common European currency was sharply increased, now even if it is not the reason. While one gearing up for Euro card, others are trying to have those impossible euros as possible. It is still possible to pay them.
Investors expect that Portugal will be after Greece and Ireland michigan lottery the next country to ask for help, because its borrowing costs rose above sustainable levels. Economy lesser Iberian countries not competitive and its growth is very slow. Portuguese Prime Minister Jose Socrates, however, continue to insists that his austerity measures, tax increases and wage cuts in the public sector will be sufficient to state the unfavorable situation has passed, michigan lottery the Prime Minister was quoted by Reuters.
U.S. economist Nouriel Roubini, known to predicted the crisis in 2008, the newspaper Diario Economico said that although Ireland and Greece initially claimed that they do not need international aid. Later, however, when market conditions worsened, the two countries had to turn to the EU and the IMF. "Aid michigan lottery for Portugal is becoming michigan lottery increasingly likely," said N. Roubini newspaper. "Whether you like it or not, Portugal is approaching the critical point. It might be a good idea to ask for help for prevention, "he says.
"Currently most reported cause of the problems of the euro area is poor fiscal management of many eurozone countries, which is unsustainable in the longer michigan lottery term, it leads to an increase in government debt. He could occur rozšafnosťou cabinets, hilarious and inefficient social systems and the need to clean up the financial sector. This debt will be put on current projections of growth in some countries very difficult to repay.
The economic and financial crisis between 2008 and 2009 will be revealed this unsustainability and financial markets now penalize countries. Member of the euro area would help the structural reforms that led to the launch of faster growth, which would simplify the payment of debts in the future. These reforms are often impractical for political reasons, "describes one of the causes of the difficulties of the euro Vladimir Zlacký, chief economist at UniCredit Bank Slovakia.
Analyst at the Institute for Economic and Social Analysis Iness Karpiš George recalls: michigan lottery "The fact that euro was necessary to eventually use shows that it is not a short-term blip ira-institutional markets or attack, speculators', but the European michigan lottery banking system is indeed in serious trouble. Due to its size will be the effort to save the system significant burden on the public finances of EU countries. "
Several agencies and newspapers brought a report that German Chancellor Angela Merkel during the EU summit in late October warned that Berlin could leave the eurozone. Britain's Guardian newspaper, citing sources outside the government michigan lottery said that Merkel is only expressed after a dispute with the Greek Prime Minister George Papandreoum, who according to newspaper accused of 'undemocratic' proposals.
"If this kind of club, which becomes michigan lottery part of the euro, maybe he had to leave Germany," newspaper quoted Chancellor. German government spokesman Steffen Seibert told British newspaper report is not true and Merkel did not state anything like that. "The story is not true. Chancellor never told anything like that. The German Government is fully committed to the euro, "said S. Seibert. michigan lottery German Foreign Minister Guido Westerwelle for the daily Berliner Zeitung said that the prosperity of Europe's largest economy is linked to the euro. "It is in Germany's interest michigan lottery that the euro was stable and prosperous Europe," he said. Influence of German Chancellor A. Merkel remains strong.
Recently alerted the markets by declaring that the common European currency was "extremely serious" situation. "The situation is obviously serious," said the head of the European Financial Stability Fund Klaus Regling in response to its observations. michigan lottery Asked whether the eurozone could fall apart, EFSF chief replied that "the danger michigan lottery is zero" and collapse of the euro "unthinkable". michigan lottery "No country will voluntarily give up the euro, the weaker countries would be economic suicide, likewise for the stronger countries. michigan lottery And politically Europe without the euro would be only half of its value, "said K. Regling.
V. Zlacký However, economic and political heterogeneity of the euro area is not considered a priority. "Without the existence of a strong central government of Europe is very difficult to ensure long-term michigan lottery sustainability of the euro area. The existence of a single currency and a single monetary policy in different countries leads to different outcomes. Currently there is no central way of balancing economic and aid. In ad hoc experiments have recently been such loan to Greece michigan lottery and EFSF position will always be political tensions between countries.
The existence michigan lottery of central government, which, for example, michigan lottery determine whether to approve the fiscal policy of each country, and determined fiscal transfers and other forms of cross-border assistance, but it is currently unrealistic. Member countries are probably not willing to give up