Fears that ditching the euro as a currency will create a global economic crisis are far-fetched. What it would offer is a chance for the eurozone countries to abandon failing policies and develop competitiveness in world markets. The loss of free trade is a bigger concern to the global economy than the loss of the euro.

IT IS conceivable that the euro could vanish as the unique currency of 17 European countries.

It is the nature of any monetary system, managed by central banks exercising macroeconomic regulation under pressure from governments, that it must either evolve or disappear. The euro cannot escape this fate either.

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Professor Jacques Garello
It would be a tragedy if globalisation were to be destroyed by a wave of protectionism. This would mean a halt to growth in wealthy nations and the derailment of all development which is wiping out extreme poverty in poor countries.
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