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While the common European currency worked fine so long as the zone -- and the world -- experienced sustained growth, the lack of common fiscal policy makes it particularly vulnerable in periods of economic stagnation or recession.
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"They have the currency working in their favor.
They say a single currency works well in the US.
"With solid operating results, limited input cost pressure and currency working in the group's favor for the first time in four years, we believe the share price is now likely to likely to see outperformance as a safe defensive harbor in uncertain markets," wrote its analyst Michael Bleakley.
Currencies work like any other salable good in that they adjust based on supply and demand.
"It makes it clear that the major institutions have no desire to make digital currencies work," he said.
There is some debate as to whether the euro area qualifies.Among the keys to making shared currencies work, according to Robert Mundell, the godfather of optimal-currency theory, is a mobile workforce.
Brian Kelly, an investment manager and talking head on CNBC, takes several stabs in "The Bitcoin Big Bang" at explaining how the crypto-currency works, only to confuse the reader with his odd metaphors: "Let's call the first bitcoin a socialite named Genesis".
In the current organisation, "key currencies" work as international money.
We invented a lot of technology to make micro-currencies work at WildTangent.
Therefore, they are functioning in a variety of different currencies, working on a basis of back-to-back financing that reduces the risk of currency fluctuations.
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CEO of Professional Science Editing for Scientists @ prosciediting.com