Could this be the beginning of the end of the Euro?
Spain’s ailing economy further undermined by Eurozone membership?
Spain’s inability to lower interest rates or devalue its currency to boost it’s ailing economy because of eurozone membership is reviving talk that the country could leave the single currency altogether. “It is only a matter of time, probably less than three years, until the euro experiment meets its end,” Avi Tiomkin, an Israeli financier, writes in Forbes. “Countries like Spain and Italy will withdraw and return to their old currencies.” Tiomkin argues that Spain's worsening property slump illustrates the problem faced by the “Latin bloc” in the eurozone.
