Newspaper headlines and editorials pointed attention of the euro area have received in the past few months. The current crisis occurred shortly after Greece said that the 2009 budget deficit was 13% of GDP, twice as high as previously predicted. For some, it was the beginning of the end for the euro zone. Could this lead to the collapse of the euro at all? Others insisted that the expulsion of Greece may be needed. In accordance with the titles at the time, the currency markets have shown little confidence in the euro. By the summer of 2010 the euro has lost at least 10% of its value against the dollar since the beginning of 2010. Financial markets are nervous. That EU leaders actually help prevent a serious crisis? "Hide
by Peter Debaere Source: Darden School of Business 21 pages. Publication Date: April 6, 2011. Prod. #: UV5682-PDF-ENG
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