Video interview: Wolfson Economics Prize — Euro exit plan

Lord Simon Wolfson is a multi-millionaire and CEO of the Next fashion chain. He came up with a competition - the 'Wolfson Economics Prize' - for the best way to exit the euro.

Lord Simon Wolfson says that leaving the Eurozone could be done over a weekend. 

He also says that a bank holiday is all that is needed to convert all assets into a new currency... read more and watch interview.

Clones, Ireland returns to using the Irish punt as currency

The town of Clones in Ireland, struggling with the Euro crisis, now uses the old Irish punt as currency in its shops. This is doing much to boost the economy of the town.

Just three days prior to Ireland's crucial referendum on the Eurozone's fiscal pact, which could further complicate the ongoing debate on austerity in Europe, one small town near the Northern Ireland border decided to start using the old Irish currency, the punt (pound).

Shopkeepers, bar owners, butchers and ordinary citizens in Clones, County Monaghan have taken matters into their own hands by reintroducing the old currency. Apparently thousands of punts have been stored away in drawers and under mattresses and they are now being resurrected... read more and view video.

The Netherlands drawn into EU crisis — may ditch the Euro

The Netherlands has been drawn into the debt crisis in Europe as the government failed to agree on budget cuts, thus casting doubt on its support for the Euro zone

Reuters reports that over the weekend, the government in the Netherlands failed to gain coalition support for its austerity plans. Elections are now planned for September and analysists have said that one of the EU's strongest economies might just bring about the demise of the Euro.

The Netherlands Prime Minister, Mark Rutte strongly advocates the Euro. He has been attempting to get the Dutch Parliament to adopt 14-16 billion Euros worth of austerity cuts in the country. This attempt is aimed at getting the Dutch budget deficit under the 3% of deficit to GDP limit which was established by the new EU fiscal agreement... read full article.