Brexit! Oh My God! Don’t panic! The British are seeing the pound fall as the first sign of the economic consequences of voting to leave the EU, but what about the euro? Find out how Brexit might affect the EU currency.
Before you listen consider the following questions:
- What is Brexit? Do you think it will have any affect on Europe or your country in particularly?
- What has happened to the value of the pound since the UK voted to leave the EU?
- What possible effect could Brexit have on the stability of the euro?
Now listen to the podcast and try to answer the following questions:
- How much in percentage terms has the pound fallen against the euro?
- When did the euro first come into existence?
- When did the euro become the common currency in European shops and business?
- What significant event occurred in 1990?
- What does the acronym PIGS stand for?
- True or false? – When a country is in deficit it’s exports and worth less than their imports.
- What is the current trade surplus of the EU?
- What limit did the Maastricht Treaty impose on Eurozone countries?
- Where did the money come from for loans to Spain, Portugal, Ireland and Greece before the financial crash of 2008?
- What is the name of the American central bank?
- Where did help come from for Nevada?
- What is the rate of youth unemployment in Greece?
- What is the name of the Greek Nazi party?
- What has the IMF recommended to the EU?
After you listen: reflect on the article.
- What have you learnt from the article that you didn’t know before? Try to identify 3 things.
- How do you perceive the € after reading the article? Has it changed your opinion in any way?
- Do you think the EU is democratic? What changes could make it more democratic?