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The original idea of the creation of the Euro area ten years ago was to help strengthen ties between member countries, not only economically but also politically. And although the concept has met with some success, particularly as regards trade ending in foreign currencies are underway I must say that the euro has created cracks in the infrastructure of the economy of the European Union. This has dragged in all countries of the EC, and beyond, not only the euro area.

The situation was brought Greece in style. The misfortunes of the Greek debt situation may be the tip of the iceberg, as other countries such as Portugal, Italy, Spain and Ireland may need to seek assistance International Monetary Fund (IMF) and loans from its European neighbors.

In theory, after a European Central Bank interest rate and the currency – the euro – to achieve greater unity and empowerment of people who are, because it reflects the situation at super-USA where the federal government would oversee the various states. But, although individual states in the U.S. have their own fiscal capacity and Reserve determines the federal bank interest rate for the whole country, which is where the similarity ends.

Problem is that national differences are what makes the concept of an economy in Europe, an impossible dream. Governments that make up the current 16 countries of the area euro are as varied as the languages spoken in. Compare Unemployment levels in the Netherlands, 4.1% to 19.1% in Spain, which says something about the state the economies of member countries of the euro area. Take a special attention on the gross domestic product in countries such as Luxembourg and Italy or Slovakia, the gap between the best and the worst seems even wider. And while governments Once you have the opportunity to support interest rates fight against inflation, traditionally one of the first lines of attack, the euro area can no longer do. Nations are in the interest rate set by the European bank. The problem is the "one size fits all" system does not work in this case.

European governments have so much money in their own economies to support banks and returns kickstart there is very little in the pot. That may be why there both fear and resentment in Germany, who are asked to assume the greatest burden of saving Greece. If the Greek government bonds, and has slumped severely affected other European countries, banks, and the results could be catastrophic. With a debt in the billions of dollars, even the IMF would not be able to support the economies of countries most of which can even include the United Kingdom.

Meanwhile, the euro depreciated against other major currencies, particularly the U.S. dollar. This has an effect of the chain against the pound, the securities markets some of the uncertainty of where he sent all, and European governments are preparing themselves for the greater risk of collapse in banks, as we saw in Spain.