Stefano Calicchio 
EURO: What is it and how does it work 
Why the euro was created and how it works: a simple approach to Europe’s single currency

Why was the euro created and how does it work? What caused the difficulties of the European currency and what solutions are being adopted to stop the instability that is frightening the entire financial world? The dream of a single currency and a single market has been nurtured in Europe for many generations. The euro has brought Europe considerable advantages, but it has also profoundly changed the balance of European economies. In this essay we will start from the base, explaining what the Euro is and what are the causes that have put it in crisis. We will see what strategies have been adopted to overcome the most difficult and dramatic moments experienced by the economy since the birth of the euro, and we will explain what proposals and initiatives individual countries have put forward to remedy the difficult situation and to relaunch the role of the euro on the continent and in the world.