Cyprus is in need of a 10 billion euro injection, but we all know they'll never be able to pay that money back as they don't even have a million citizens. In addition, the Cypriotic banks are taking away about 7 to 10% of the money stored in Cypriotic bank accounts. This is the first time this has happened and it could well cause a continental bank run. European citizens have come to think that the real problem in this situation and financial crisis are the banks and the Euro, the currency we started using back in 2002.

Ever since the Euro was introduced in the European countries there have been financial problems and the politicians from the European Union are doing everything they can to keep the Euro, despite the fact a lot of the Europeans don't want it anymore and would like to start using their former currency again. Because of the Euro we are forced to save every country with financial problems and can't just let it collapse, because they would start a domino effect and take down other countries with them. Banks are another big part of the problem, but this discussion will not focus on that.

Should Europe just give up on the Euro or do you see another solution for the problem?

I don't know. It's so easy to pay with the same currency everywhere in Europe.

And look at our country, we use it and we're still doing great and are still one of the richest countries in the world.

But the way every other country ****s up and we need to help irritates me though.

No, the Euro and Europe is the only chance the European countries have to compete against growing superpowers like China and India. It may be a long and tough way but I'm sure in the end, Europe will bring econmical growth and will grow together as one big community.

I'm not sure. My country is in EU but this doesn't say much (we're the poorest from them all ). I like the idea of the united Europe and the EURO is one of the trademarks but if the currency truly hurts the financial stabilty then we may be better off it.

Discontinuing the Euro could also damage the economy too. The Euro makes travel more accessible and appealing. No one wants to be changing currency every time they hop from country to country. It's an inconvenience.

Not all countries.

I would not oppose it. I'd be ok with getting our former currency back.
I love the euro for how easy it is to pay in all the other countries, but it obviously has its problems too.
The Euro acts like a buffer. This means it helps the slightly poorer countries with the Euro, but not as much as it holds back the slightly more rich countries.
So it ends up involving ethics too.

Maybe you are doing fine, but overall the UK's economy is not doing as well as you seem to think...
http://www.bloomberg.com/news/2013-0...k-weakens.html

I thought Holland was doing fine as well, only because I am doing fine. That was until I overheard conversations of a man who said half of his family got fired last year because of this.

I'm not an economics kind of guy so idk I never knew the Euro cause financial problems.

I think you might be wearing rose tinted glasses here. Sure, the UK is nowhere near as bad as the likes of Greece where millions are jobless and many are forced out of their homes, but we are by no means "doing great", lmao.

o/t: Some countries would definitely benefit from leaving the eurozone - and although I can't even pretend I completely understand what I'm talking about - I'm fairly sure it isn't as simple as opting in or opting out. The process of re-establishing their pre-euro currency would be more or less impossible for countries who've felt the economic crash the worst.

The euro is a two sided sword. Wealthier countries such as Germany, France, the Netherlands and Austria profit from it. These countries rely on export and they have less barriers and less exchange rate risks. However; smaller and poorer countries such as Greece that rely on import have disadvantages. The problem is that you can't have the same economy if you don't have the same policies and government spendings. Unless Europe becomes a political union as well, this is going to fail. I'm all in for that idea, but some people still rely so heavily on their cultural roots and don't want their country to melt into a big union like the United States of America. There is too much nationalism still. So, we either have to go all the way, or we have to give up the whole European integration process and fail miserably.

thank god that we're not using it

It does make traveling easier, but then you have all these financial problems....

I think they should keep it, it'll get better.

The problem is the politicians stealing billions of € every month and nobody doing nothing about it

The solution isn't dismantling it. What needs to be done is the establishment of clearly defined sanctions for member-states like Greece and Cyprus. The austerity measures are too arbitrary and aren't effective. They also need to lay out a process for rescinding a state's membership to the EU. If there is a need to kick someone out in the current system, it's going to be a mess since there is no precedent.

Cypriots are now protesting to get our original currency, The Cyprus Pound, back.
The Cyprus pound was more powerful that Euro.

The reason for Cyprus' economic crisis is our past President, who changed 1 month ago. He completely DESTROYED us. He's probably the most hated person in Cyprus history atm.

This makes me wonder why there isn't just one global currency.

No, there might be some problems right now, but the situation in some countries like Greece or Italy would've been way worse without it. Politicians and banks ****ed it up we're having this crisis because of that
We're going trough a rough time but It'll better in the long term, I'm sure