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With or without Greece, euro has always been a shaky concept

Jul 01, 2015    

The world is going bonkers over whether Greece will default on the 1.6 billion euros that it needs to pay the International Monetary Fund(IMF) today. All together the country owes 240 billion euros to the troika of European Commission, European Central Bank (ECB) and IMF. With the default, chances are Greece will have to exit from the Eurozone and stop using euro as its currency.Irrespective of whatever happens to Greece, euro continues to remain a shaky idea. In order to understand this point, we need to go back a little in history.The European Union (EU) was established by the Maastricht Tre...

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