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In July 2012, the European Central Banks then-president Mario Draghi gave a speech that is now credited with saving the euro. The ECB is ready to do whatever it takes to preserve the euro, and believe me, it will be enough. Greece was in the middle of a debt crisis, and economic instability was spreading to other parts of the euro zone. The ECB, the central bank for the countries that have adopted the euro, had to act. Ten years later, the euro and the euro zone are still intact. But one core issue at the heart of the crisis still remains. In fact, it rears its head every time the region comes under economic pressure. In 1999, 11 countries came together to use one single currency: the euro. As of 2022, the Euro area boasts 19 members. And while all the countries in the euro zone have one currency and one central bank setting interest rates, its up to their national governments to set their fiscal agendas for the year. This means making big decisions around taxation and spendin
