Final solution

The austerity measure taken up by Greece will not help the country in the long run. Greece is going to default ,like Argentina.In the next few months, we are going to witness the migration of young Greeks to western Europe and other countries. The speculators are not sure whether Greecewill default or not, but at the same time they are little optimistic about Greece’s austerity measure. These massive trillion dollar hair cut could be a major catastrophe to the banking industry, particularly to Germany, in next couple of months.

The austerity measure will cause the economic activity to shrink and as a result, there will be an unemployment for a long time.The down slides in Gross domestic product(GDP) will make it an impossible task to service the debt,causing the economy and probably,the Euro to collapse.

What I suggest is to divide the common currency, the Euro into Northern European countries and the Southern European countries.There should be a separate currency for Northern European countries and Southern European countries.This will solve all the problem and the region will get out of the crisis.