Euro Currency Problems Analysis

It is possible to state that Europe’s debt crisis has become one of the most burning issues of the continent. The countries of the Eurozone are trying to decide whether they need the common currency. The crisis influences the lives of many people living in those countries. Admittedly, it is not only about politicians or economists. All citizens of those countries are involved in the discourse. It is possible to consider some prospects of countries paying attention to prospects of particular people. Therefore, it can be interesting to think of the future of Germany considering the position of Angela Merkel. The future of Greece can become clear if to have a closer look at an average citizen, e.g. a 32-year-old high school educated recent father. Finally, the success of Tiesto, a successful Dutch musician, can illustrate perspectives of the Netherlands.

Admittedly, Angela Merkel is considered to be one of the central figures in the process of saving the common currency (Kulish and Erlanger A9). At present, the Chancellor is trying to launch a new strategy to save the continent from default. Merkel has delivered speeches in Bundestag stressing that immediate and effective measures should be undertaken (Smith n.p.). The Chancellor’s critics claim that it took Merkel too long to realize that it was not time to hesitate (“Angela Merkel and the Euro” n.p.). However, some analytics say that the Chancellor was simply waiting for the most suitable time to act as it was her special way to react to some critical position (“Angela Merkel and the Euro” n.p.).

Notably, Germany is considered to be one of the central countries in the process as well (Kulish and Erlanger A9). Although some analytics are expressing doubts concerning the role of Germany, the country has the strongest economy in the region. It is but natural that this is one of the countries to take up the initiative in the processes of saving the common currency. Therefore, it is possible to draw parallels between the actions of Angela Merkel and Germany’s prospects. The country will keep its leading position in the region. More so, the image of the country will improve as Germany will be a kind of a savior for some European countries.

As far as Greece is concerned, it is possible to consider its prospects studying the position of an average Greek. Therefore, it is possible to have a closer look at the perspectives of a 32-year-old high school-educated recent father. This person faces a lot of problems due to the economic crisis in the country. In the first place, this man can be blue-collar due to his education. He can also run his own business (it is about small businesses, of course). However, both categories are the most vulnerable. The taxes have increased considerably in Greece (Kanter B2). More so, the government of the country continues launching austerity policies making people protest (Kitsantonis n.p.). Therefore, the man has to try his best to provide for his family. He has to work even harder to earn money. Admittedly, he will need somebody’s help.

Likewise, Greece will need other European countries’ support. The country has failed to solve financial problems on its own. Therefore, Greece will need to follow some regulations required by other European countries which are now in more favorable conditions. Apart from this, Greek people will need to work hard to try to enhance the economy of their country. It will be really difficult, but the country does not have much choice as the situation is really serious. Greeks will need to accept their government’s austerity policies. Each citizen will need to be committed to saving the country.

As for the Dutch economy and the crisis in the Eurozone, it is possible to consider the economic well-being of Tiesto, a Dutch musician. Tiesto is a world-famous DJ who is regarded as one of the most successful musicians of the 2000s (Mason n.p.). This musician earns a lot of money as his music is really famous. It is possible to state though, that the economic crisis influenced his well-being to a certain extent.

This is a very good example to illustrate the situation in the Netherlands. The country has also been affected by the crisis. Nonetheless, it did not lead to dramatic changes in the country’s economy. The country has started bringing to the fore issues concerning countries that do not follow the requirements of the Eurozone. However, the crisis did not ruin the country’s economy as it did in the case of Greece.

To sum up, different European countries were affected by the financial crisis differently. Some countries like Germany improved their leading position and started playing a central role in the process of saving the region from financial catastrophe. Some countries’ financial well-being was ruined. This is the case with Greece which now has to rely on the support of other European countries. Finally, some countries managed to overcome financial problems.

Works Cited

“Angela Merkel and the Euro: The New Iron Chancellor.” The Economist, 26 Nov. 2011. Web. 7 December 2011.

Kanter, James. “Task Force Urges Greece to Improve Tax Collection.” New York Times 2011: B2. Print.

Kitsantonis, Niki. “Greek Workers Walk out in Protest for 7th Time.” New York Times, 2011. Web.

Kulish, Nicholas, and Steven Erlanger. “Merkel Seeks Swift Action on What May Be Long Job to Save the Euro.” New York Times 2011: A9. Print.

Mason, Kerri. “Tiesto: The Billboard Cover Story.” Bilboard, 2011. Web.

Smith, Aaron. “Euro Debt Crisis Solution on Horizon.” CNN Money. CNN, 2011. Web.

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