Should Spain Keep the Euro?

There are many advantages and disadvantages of having a single currency. At the moment, Spain is going through a lot of economic and financial trouble, and the cause is the Euro. When Spain first adopted the Euro, it got alot of money to support the private sector and its economy experienced rapid growth. One bad side of a single currency is that when one country’s currency changes, all the other countries’ currencies change as well. Since everyone has the same currency, it is harder to make your industry competitive. As a result of a single currency, Spain must perform “internal devaluation”, which means adjusting so costs can be the same as other Euro-using nations.

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