By Jason Moore

I have rather mixed views over the euro zone crisis;I understand that the Germans are getting increasingly annoyed at having to bail out the states in southern Europe but it must be remembered that they were the main instigators of financial union in the first place.

Greece is effectively bankrupt and so is Ireland and Portugal; Spain and Italy have their own problems. So it is Germany to the rescue but the Germans are getting increasingly sceptical about the southern European states and their bail-outs. How long will the Germans continue to bank-roll the struggling European states?

I don´t think that Chancellor Angela Merkel will allow this state of affairs to continue for much longer and also the very survival of the single currency is at stake. I am sure that soon it will be decided to have a two-speed euro, with the struggling nations in one camp and the stronger nations in another. Perhaps this is the only way forward. The southern European states have got to start standing on their own two feet and trying to sort out their own financial mess. It must be remembered that Greece, Ireland, Portugal, Spain and to a lesser extent Italy have received billions of euros in financial help over the years. Where has all this money gone? The time has come for them to put away their begging bowls and make an effort to put their house in order. If this is not done soon I think that it will have enormous consequences and the euro will be under pressure.


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