The Euro? A good idea?

It seemed strange to me when I first heard the idea that there would be a universal currency in Europe. I knew that there were weak currencies (the Lira) and strong currencies in Europe (the Deutschmark), and that the weaker ones, were having a difficult time in competing in the global marketplace.

In that sense, the Euro would give those countries a more viable currency with which to do business. That said, I was always suspicious that in times of trouble, like right now, for example, that those weaker economies would drag on the common currency and that the cracks in Europe's economic unity would begin to show.


In my opinion, the Euro was always intended to boost the weaker economies in Europe by giving them the same currency as the stronger ones. However, I see the opposite as happening right now, that the weak European economies are sending ripples through the stronger EU members and that both are now hamstrung by the currency that they share.
It worked out well enough when times are good. It allowed a much easier sale of goods across borders and probably helped smooth some inflation for weaker countries. However, now the economies of Europe are slow each country has its own separate needs, the Euro is an anchor around all their necks.
The individual nations are now unable to fix their own problems with currency manipulations to ease interest rates and adjust deflation/inflation. Maybe that is why the UK decided to keep the pound.


I believe the Euro can't last. There are too many interests to maintain a uniform currency.