Consulting Firm Advises Europe to Adopt Dual Currencies

With the euro zone debt crisis is far from over, a new strategy has been put forward to alleviate the strain currently faced by households and consumers across the continent.

Consultancy firm Strategic Decisions Groupis urging Europe’s leaders to adopt a dual currency approach as an alternative to the greater fiscal integration that is currently being discussed at EU summits.

Managing director of its Europe and Middle East arm, Mazen Skaf, says that struggling countries should be given the flexibility to introduce national currencies alongside the euro.

“The national currency would be used for payment of public pensions, the salaries of public sector employees and also for domestic transactions,” he told CNBC on Tuesday.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza