“The European currency is falling and it may be negative for the US economy,” said former head of the US Federal Reserve Alan Greenspan. “Euro is falling and this process is resulting in difficulties in the European banking system. The lack of trust to securities in Euro is keeping the European banks in tension. Such securities have always been an excellent tool for crediting, but now they are drawn under question,” he said. According to Greenspan, the fall of the European currency will affect on the incomes and securities of American companies as 20% of America’s export is consumed in Europe. Greenspan says that the alienation in the economic, statistical and banking sectors is growing. The question is that whether Euro should be a common currency for 17 countries with different cultures, governments, consumption expenses and inflation levels. In answer to a question whether it is possible that the Euro zone may fall he said, “Certainly”.
