Greece 's Economy : A Contributing Factor For The Falling Of The Euro

975 Words Apr 5th, 2016 4 Pages
Greece’s Economy, A Contributing Factor to the Falling of the Euro After WWII the world began seeking tranquility and unification among each other. Europe, being part of this movement decided that in order to promote peace and prosperity they must unite as one. This marked the creation on European Union (EU), a union created to establish a political and economic unification within the European nations. Today the EU’s currency, the euro, is considered one of the world’s strongest currencies. However, over time the currency has deflated in value due to the economic downfall of the continent as a whole. One of these contributing factors was Greece’s Financial Crisis (4).
In 1957, Belgium, France, Germany, Italy, Luxembourg and the Netherlands gathered to organize a European integration. Years later, The European Union (EU) was formed. This union was then later established in 1993 and currently has 28 European member states. Along with the creation of the union, was the creation of the European Central Bank (EBC). The central bank became the official administer monetary policy for the euro. The currency is currently used by its 19 members. This central bank helps stabilize the value of the currency within the Eurozone.
There were many goals that were established by the organization to create a more perfect union. The EU remained focused on promoting human rights around the globe. Around the 1960s the world began to see a period of economic growth and later in the 70s more…

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