It’s almost ten years ago. Europe became united in a new strong coin, the Euro (€). But what has this unique coin done for us, the simple users of money?
Twelve countries, united on a financial basis, to become stronger and to stabilize the monetary status of Europe. There were benefits off course. No more exchanging money, in twelve countries you could pay with the same currency.
But the difference came quick … my Dutch Euro is more valuable then the Greek or Spanish Euro, so a Dutch bread costs 2 Euro but the same one is only 1 Euro in Greece.
And now … the Euro is in crisis. Big economic, highly trained executives and governments are dealing with it now, but what did really go wrong?
There are a lot of possibilities to tell where it went wrong, people blame poorer countries like Greece, Italy for this crisis. But all the Eurozone countries are the blame.
When the Euro came, old money disappeared. Every country in the Eurozone had the same currency, it was one big family. But a coin doesn’t make all those countries relatives. Every country kept its own standard. And that is one of the clues.
So, before the Euro, there was a difference between the richer West European countries and the South European countries. And that difference kept its place. The meaning of one currency was to create a front to the upcoming US Dollar. An united Europe, not only in words, but in currency also. Stronger and bigger.
All the economic genius have forgotten one thing… people. People want to hold on to what they had. Look only in their own purse, not in the purse of their neighbour. And want to hold on to the status they had, before the Euro.
One front … no way. Every country had the Euro, but its value differences. To the “outside” Europe had one coin, but “inside” the Euro was divided in twelve different coins, namely the twelve starting Eurozone countries with their own vision on the Euro.
And the people … the taxpayer … will pay for this vision …
