The euro's future is bleak without reform

The euro's future is bleak unless Europe does more to help member countries facing an adverse economic situation, said the Nobel prize winning economist Joseph Stiglitz.
In an excerpt from a commentary on his book "Freefall", published by the Sunday Telegraph, former World Bank chief economist also said that only a matter of time until Spain is attacked by speculators and the euro future..
"The euro area needs a better economic cooperation, not only the kind that merely reinforce the rules of the budget, but cooperation also ensures that (...) when countries experience adverse situations, receive help from others," he wrote and the euro future..

The  euro future

"Europe created a solidarity fund to help new members to join the EU (...) but did not create a solidarity fund to help anywhere in the euro area face a crisis. Without that background, the prospects for the euro the future are grim, "he said and the euro future..

Stiglitz also said the spending cuts to do Spain possibly worsen unemployment, which is already about 20 percent, and slow the economy, leaving little improvement in sight for your tax situation.
"Spain could be entering the kind of death spiral that afflicted Argentina just a decade ago," said Stiglitz, winner of the Nobel Prize in Economics in 2001 and the euro future..

Euro Currency

"Only when Argentina ended its fixed exchange rate against the dollar began to rise and reduced the deficit. Now, Spain has been attacked by speculators, but that could just be a matter of time," he said and the euro future.