From Aljazeera
By Henry D' Souza
''The Prime Minister of Luxembourg Jean-Claude Juncker felt that there was an international conspiracy to destroy the euro. It may have seemed so, but the EU had to take responsibility for overspending. The Swedish Finance Minister seemed more credible when he said that wicked speculators were behaving like “wolf-packs.”9 These remarks underlined a tussle between creditors and debtors.''
Lastly, the EU and its ally U.S, are facing severe competition from the BRICS, Brazil, Russia, India, China and South Africa. The 5-nation BRICS account for 20% of the world’s economy, amounting to $13.5 trillion. The 2012 Delhi Declaration stated that the BRICS want their currencies to replace, wherever possible, the dollar and the euro, thus reducing transaction costs.''
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