The Great Euro Crash
Where did ALL the Money Go?
For more than two years, Europe's economies have been on the edge of a financial economic precipice. The crisis has battered Britain too, and if it isn't sorted out, it could drag us into a devastating slump. This is the story of how some European countries amassed unsustainable mountains of debt and hid much of it till it was too late.
And it's about how Europe's banks came within days of an almighty crash that would have been more catastrophic than the global crisis of 2008. This mess has its roots in perhaps the riskiest economic experiment ever carried out – the creation of a single currency for 17 very different European countries.
The original idea of the euro was to bring stability and harmony, both political and financial, to the member countries in Europe.
The reality could not be more pronounced as, without political integration, the trade gap between the differing economies has led to increased government borrowing, industrial unrest and hardships not witnessed for many years.