March 27, 2012 (Newswire.com) - Leicester, UK, 27 March 2012 : The future of Euro is in the balance. With the financial crisis rocking Europe, the intelligentsia and the business circles are debating whether Euro will survive or demise. 'Is the Euro finished?' was the subject of Leicester Exchange live debate, which was held at the Lloyd's Building, London, on 7 March, 2012.
Addressing the debate, Mr. Petros Fassoulas, Chairman of the European Movement, UK, advised traders, business executives, politicians and economists gathered in the meeting to look at the bigger picture. There is a future for a common currency in Europe and it can deliver. The Eurozone is being redesigned and re-structured and if that means more Euro then maybe that should happen.
Pressure is building on the Eurozone momentously and it is being debated whether the situation warrants a contingency plan in the event of the system falling apart. The uncertainty about the future of the currency has created doubts whether the scenario will ease up or get even more complex. Whatever the future may hold, the Eurozone is currently in a difficult situation. The political and business leaders are considering how they can provide the Euro a remedy.
The Eurozone was set up as an irrevocable and irreversible currency and it should remain so. However, there were deficiencies in the way the Eurozone was set up that have to be urgently tackled, not least the monetarist doctrine that was enshrined in its blueprint.
Fund input from the European Central Bank has played a major stabilizing role in financial markets, buying time for the political leadership to agree and implement much needed reforms in the Eurozone. However, the leaders, finding themselves at the opposite ends, have failed to agree on issues address the problems behind the fall of the Euro.
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