Is the Euro Finished?

On July 17th, voters in Greece have a very important decision to make. They will decide whether or not to stay in the Eurozone. This has already depleted funds in Greek bank accounts.

"On Sunday, Greek voters will go to the polls to choose not just a new government but whether the country will stay in the Euro zone. The vote could have massive ramifications for the future of the European Union, the financial markets and, by extension, the U.S. economy. Fearing the worst, Greek citizens have been pulling money out of their banks and stocking up on food ahead of the vote, The WSJ reports."

The Euro is finished. Its loved by companies and by bankers, but not by the masses of Europeans, particularly those in Southern Europe or Ireland. As their economies crashed, the national government in these countries were powerless to use inflation to pump their economies. Traditionally they would have printed more money or lowered interest, but the Germans would not allow those tools to be used. Instead, in exchange for bailing out poor European nations, the Germans demanded austerity, which has lead to even more unemployment, less tax collection, and more bank instability in poor European nations. Spain, the eurozone's 4th largest economy, recently got a bail out, amidst fears that Italy maybe next. The Germans likely won't be willing to keep contributing to bail out money indefinitely, and the citizens of poor European nations have already lost their tolerance for giving in to German austerity demands. If Greece is not the first nation to break away from the Euro, it will be another nation. I doubt there will be a Euro, two years from now. In fact, there might not be one next year. Something like this has the potential to blow up so fast.