Value of the Euro

As you may have already noticed, the Euro value has continue to Decline further the last few days (at about 1.27 against the dollar) as Greece prepares for new elections yet again, and cannot find a compromise for their economic problems. The expectation from what I am reading seems to be that it may pull out of using the Euro and return to the drachma at a vastly devalued ratio. Thus, many Greeks are engaging in a run on the banks, pulling out Euros which will remain at a higher value than the reinstated drachma. Not a good scenario for Greece or the EU, and especially for the Greek people. It is amazing to consider that the Euro has been in use only ten years (June 2, 2002 was commencement date) and is already in such distress. Conceptually, the Euro and the EU are brilliant ideas to create a bigger more unified economy, eliminate work restrictions between countries, eliminate border controls and so on. The reality has been more difficult, especially since the economic crash. The only bright spot now is for we who travel from outside the EU, to the EU countries who use the Euro and perhaps this summer with a better exchange rate.