THE EUROPEAN UNION CENTRAL BANK UNIFIED APPROACH TOWARDS THE STRENGTHENING OF ITS CURRENCY THE EURO WITH THE SEVEN HUNDRED BILLION EUROS CURRENCY RESCUE PACKAGE HAS BEEN CRITICIZED.


The European central bank plan aimed at a unified approach towards the strengthening of the European Union currency the euro to one of the world's dominant hard currencies and to reduce domestic inter-European currencies and economic wars between the European Union countries by the allocation of the euro rescue package worth seven hundred billion euros that has been criticized by some experts as less unifying, due to the fact that the distribution of the allocated amount will be made with accountability methods which means more efficient countries like Germany will receive more money, while countries like Portugal, Spain, Greece and Italy will receive less. However, others have said countries like Germany may be made to horses of other countries within the Union to keep the euro stronger in the world markets, if the recent policies of the European central bank on reserve money papers is not changed.

Written by Godfrey Ohia.