IT HAS BEEN another bad week for the eurozone’s single currency with a change of government doing little to allay fears over Italy’s stability and other developments also causing concern.
On Wednesday, an auction of German ten-year bonds did not go well while there are reports today that Spain is considering international assistance as its new government runs the rule over its financial affairs.
Yesterday, the eurozone’s two main protagonists French president Nicolas Sarkozy and German chancellor Angela Merkel, or ‘Merkozy’ as they are sometimes referred to, warned that a debt collapse in Italy would end the euro.
Today we have learned of reports from Britain that its embassies in the eurozone are being told to prepare for the fallout from a collapse of the euro that would conceivably leave expats unable to access their bank accounts or even withdraw crash.
With all this going on and no end to the crisis appearing to be in sight, we’re asking today quite simply do you think the euro will collapse?