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What impact could Greece, Italy, Spain, Portugal, or all have on the EURO and the European...

What impact could Greece, Italy, Spain, Portugal, or all have on the EURO and the European Union if they stop using the common currency?

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Answer #1

This question can be well explained with the situation of the Greece economic crisis. At that very situation, if Greece is not helped, the impact could drag down many countries including Spain, Italy, Portugal etc. With the impact, the credibility of the safe currency is actually reduced would ultimately force countries like Italy, Spain to remove the common currency factor. On the whole, if a country is facing crisis, The Euro will be declined forcing the other countries to withdraw the thought of common currency. However at that situation, the IMF and 15 other European nations came to help Greece on the whole.

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