madam president the troubles of greece and the eurozone should not be seen as an exception
a single currency for such a large economically heterogeneous region of the world is self-evidently problematic
the value of a currency should reflect the condition of a state's economy
when the economy thrives the value of the state's currency will tend to rise
when an economy falls into recession the value of the currency will tend to fall
the state of the economy of greece requires a depreciation of its currency
if it had experienced that depreciation it would have benefited from a tourist boom
the euro is not a solution to the economic problems of the world
it is the problem
the difficulty for greece is that if it pulled out of the euro now it would find that the fall in the value of its reverted currency would multiply its foreign debt
it is truly imprisoned in the eurozone
this should be a warning to countries outside the eurozone
join it at your peril
once inside you will be locked in for ever
