Greece Upholds the Euro The pros are that a return to the old currency like the drachma would have the effect of depreciate in value, it would become more competitively in price, and this would boost the Greeks exports. ... No doubt this would be contentious for further cognation of the European Union and would lead to an abundance of un-predicted events for the euro itself.7 If Greece was to abandon the euro and convert to their old currency (drachmas) successfully in the global market, this could turn to other countries with a severe deficit potentially wanting to do the same.8 This exempl...

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• Has Bibliography

Also when Greece was on the drachma, which was their old currency, they were more appealing to other countries when trading. That is because the drachma usually was less then the euro and made getting exports from Greece instead of other counties that are in the European Union more desirable. ... Now say if they were still on the drachma they would be able to do such a thing. ...

• Word Count: 1589
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• Grade Level: High School

The Eurozone is a unique economic system made up of 17 nations with separate goals and different economies; allowing each country to issue its own bonds. Despite their differences, most of these countries are bound together by the Euro and the European Central Bank (ECB) since January 1st, 1999. Reg...

• Word Count: 1601
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• Grade Level: Undergraduate