Membership of the Economic and Monetary Union of the European Union (EMU) is ostensibly a one-way street. Once you join the euro area (commonly known as the eurozone), you cannot leave. Yet the 4th December issue of The Economist carries on the front-page the heartfelt plea “Don’t do it” over a picture of a man with a euro coin for his face, just about to commit suicide. This just confirms what anyone interested in the topic already knew – of course you can leave the euro. It may be messy, it may be expensive (and The Economist devotes an article to explain just how messy and expensive it would be), but it is perfectly feasible.
Membership of the Economic and Monetary Union of the European Union (EMU) is ostensibly a one-way street. Once you join the euro area (commonly known as the eurozone), you cannot leave. Yet the 4th December issue of The Economist carries on the front-page the heartfelt plea “Don’t do it” over a picture of a man with a euro coin for his face, just about to commit suicide. This just confirms what anyone interested in the topic already knew – of course you can leave the euro. It may be messy, it may be expensive (and The Economist devotes an article to explain just how messy and expensive it would be), but it is perfectly feasible.