One of the design ideas focuses on cultural heritage. The rest either pander to our individualistic and inflated sense of self-importance through vaguely defined European ‘values’ or pick comfortably neutral topics, such as landscapes or animals.
Judging from the comments by central bank president György Matolcsy, Hungary could join the euro in 2030 or soon thereafter. Would such a membership be good for Hungary?
Only imaginary landscapes and monuments are depicted on banknotes, in order to have common visuals and not to privilege one national culture over another—now questionable choices in terms of monetary security.
Euro zone inflation, which peaked at 9.1% in August, has reached its highest point since the introduction of the euro in 1999. Amidst fears of entrenchment, the ECB is preparing a major hike in interest rates that may also slow down the economy.
In the first quarter of this year, the euro area ran a combined trade and financial deficit vs. Russia of €-26 billion. Only the deficit vs. China was bigger, at €-38.8 billion.
As Croatia’s lawmakers enter the final stretch toward euro membership, it is essential that they understand exactly what happened in Greece, and why. In five short years, 2009-2014, the Greek economy imploded: one quarter of it vanished. This was a direct result of the austerity packages that the EU and the ECB forced upon the government in Athens. What will Croatia do to avoid ending up in the same trap as Greece?
