2 results for 'euro zone'
Cyprus is a small country that is enlisted in the European Union. The turmoil of the euro zone crisis has been in action since long and the latest effects have hit Cyprus real bad and are as if targeted the country. It was basically a crisis that affected the banking business of the country. Last week a bailout of 10bn Euros had been agreed by the IMF and the EU for the curing of the economy. The bailout deal of the country with the IMF and EU has brought many other small economy countries into light. It received €10 billion as the bailout amount on last Monday to combat the present... (more)
...Looking at it in hard economic terms who would ever have agreed to allow the Greeks, or the Spanish, or the Portuguese, or the Irish to join the club? All it would take is for these fragile economies to come under sustained pressure for questions to be asked about the operation of a whole euro zone, combining rich and poor and supposedly treating them as equal partners.
The Greeks, the poorest of the European cousins, were effectively given a euro credit card, and they used it, without caution or reservation, almost as if they had won a lottery, which, in a way, they had. The... (more)
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