3 ms·
For europeans, a lot of bad things, the most important: 1)Forced conversions of savings from euros to pesetas, liras, francs, and in the process devaluating th
by forgottenpaswrd 15y ago
For europeans, a lot of bad things, the most important:
1)Forced conversions of savings from euros to pesetas, liras, francs, and in the process devaluating their purchasing power 50% or more(somebody have to pay for the excesses in financing industry and history says it is always the people as the people that have money will fly or ask expert advice to not being touched)..
2) Increment cost in commerce between Europeans as you will have to convert pesetas, escudos or liras to francs witch takes a hight commission and bureaucracy(time and money) cost.
3) If you go to other European country you will need to change money(and pay) and if you don't use it all you need to convert it again.
4) Debt is denominated in euros, so when countries start printing money for paying their obligations (pensions, functionaries) debt will be more impossible to pay than already is.
- twp 15y agoIt's worse. If the Euro breaks up it will break up into two. The currency of the top half will skyrocket and those countries will quickly become uncompetitive and so their economies will crash. The bottom half will find that they earn is some useless currency but that their debts are denominated in Euros. They will find themselves crushed under an impossible debt burden. Think negative equity on a national scale which last decades. I know which half I would rather be in, but it's gonna be horrible for everyone.