THE EURO CRISES AND ITS IMPORTANCE FOR EUROPE

The Euro is the new currency in many countries of the European Union (EU). It has a crucial impact on persons, companies and public households as well as on debts, real and felt inflation, interest rates, the political unity based on assumed liability of the tax payers etc. There is a significant amount of public literature about various effects of the Euro currency. The importance of the warranty act for the EU is discussed as the crises or trap the Euro has brought obviously for many market participants in various countries. Due to the fact that there does not exist only one correct view, as this depends on the country this view is taken from, any final statements which are valid ever and for all cannot be done. Obviously it is a serious challenge for all attending countries including their inhabitants and companies. The fact that many single effects cannot be derived to one single or main reason proves the challenges regarding this matter. There are still several countries which didn't implement the Euro as currency and obviously they have reasons for that. It can be stated that the Euro as currency didn't convince as necessity for the unity of the European Union each head of state and is a research gap so far. This paper is therefore a basis for further research regarding all mentioned reasons.