With reference to the article by Jonugh and Drea (2010) and some of article in their reference list, articles from the Economist, your own research and any relevant date address the following question:
“In 2010 the Euro zone (counties that use the Euro as a currency faced its first series crisis. Greece was on unsustainable fiscal path and bond market had started to lose faith in Greek sovereign bonds. Which Greece needs to sell to finance its budget deficit? Later in 2010 Ireland faced a similar crisis and 2011 the same pattern is being repeated in Portugal and even in Italy. Doubt has also been cast on large economies such as Spain and France. This crisis has in turn called into question the survival of the Euro. Based on your research, do you think the Euro will survive with current member countries? Do you think it should survive? How might having a common currency such as the Euro have contributed to the fiscal crisis in some member states? Are the consequences of its collapse worse than the cost of saving it ? ”
BE sure to use economic terminology, equation, data and diagram in your answers.
