Coronavirus: The Looming Collapse of Europe’s Single Currency
As the coronavirus unleashes economic shockwaves across Europe, the European single currency, the most visible symbol of European unification, is facing collapse.
Coronavirus: The Looming Collapse of Europe’s Single Currency
Soeren Kern | Gatestone Institute | April 7, 2020
As the coronavirus unleashes economic shockwaves across Europe, the European single currency, the most visible symbol of European unification, is facing collapse.
The eurozone — a monetary union of 19 of the 27 Member States of the European Union that have adopted the euro as their common currency — is being buffeted not only by the prospect of a deep and long-lasting recession. Northern and Southern European countries are also feuding over possible financial support for Italy and Spain, the EU’s third- and fourth-largest economies, which have been especially hard hit by the coronavirus.
