Rename the Euro

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I thought unemployment in the U.S. was bad at 8.1%, but it’s nothing compared to the  11% average of the 17 EU countries that use the Euro and positively rosy compared to the staggering 24.3% unemployment rate in Spain. I would argue that austerity measures to combat the growing debt crisis have not helped much. This is a serious topic and I don’t wish to make light of the plight of workers (who are not working) and must confess up front that I am no economist although I do believe in the economic theories of John Maynard Keynes…

…but, there just might be an easy solution to the unemployment problem, which as I see it has more to do with the Euro than anything else.  I am not proposing that the 17 countries go back to their native currencies.  I remember thinking I was richer than I actually was when I traveled to Italy in 1984 and the exchange rate was something like 3,700 liras to the U.S. dollar.  And I’m sorry, but the Greek dracma sounds too draconian, too dramatic and too much like Dracula to inspire confidence.  And isn’t confidence the name of the game?  And since it is, in my opinion, all about making people feel good, even giddy and want to hire, take risks and invest, the European Union ought to simply rename the Euro. Call it the Euremployo.  An alternate name would be Euronlaplaya, which in Spanish translates roughly to “you are on the beach.” I’m serious, sort of.  Why not? With 51.5% unemployment among young people in Spain, such a tweak couldn’t possibly make matters worse.

I don’t think drastic austerity measures are always necessary in drastic times and can complicate things politically – look what happened in France. Sometimes the simplest solutions are the best. So my offering to solve the European economic crisis is the Euremployo, or if you prefer, Euronlaplaya. Actually, I’d prefer to be employed on the beach.  Which gives me another idea – pail and shovel ready jobs on the beach….

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