Friday, March 16, 2012

Disappearance of the Euro.

Explosion of the buying Euro
Unthinkable there is still some months, European countries échafauderaient plans for break-up of the eurozone. National banks plancheraient including on the possibility of reviving their old national currencies, they print more since the launch of the euro in January 2002.
At least one of 17 banks in the eurozone, the Bank of Ireland, would think about the possibility to print its own banknotes and restart so its own currency, says the American daily. And according to rumors, the Greece Bank would secretly visit of drachmas, the official currency Greek before the adoption of the euro. However, a spokesperson for the Bank denied these noises.
At the same time, many central banks outside the euro area preparing defensive measures in case of disappearance of the European currency. In particular, the Switzerland Bank would think about the possibility of replacing the single currency, currently used as a reference for the Swiss franc Mint, by another currency or basket of currencies. In Montenegro, the official currency is the euro although the country does not belong to the euro area, policy makers are considering "a wide panel of opportunities ranging from the use of another official currency at the launch of their own currency". However, the Central Bank of Montenegro is not allowed to hit its currency. Similarly, Bosnia or the Latvia whose currencies are indexed on the euro reflected also in possible exchange replacements.

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