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Is The Eurozone Falling Apart

The Eurozone is also called the Euro area because of what it stands for. This union is made of 17 countries, members of the European Union which agreed to adopt the same currency and the same legal tender. This turns the Eurozone into a monetary and economic union. When the Eurozone was established back in 1999 it represented one of the first things that pointed out towards the tendency of globalization. Is this tendency no longer wanted? Do European leaders no longer want to be united under the same currency? Or is the Euro the cause of the current financial problems and maintaining this union can no longer be profitable or safe?

All these questions started to worry leaders from the Eurozone and not only. Even though the 17 countries that are part of this union are the ones directly involved and affected by a possible falling apart, the other European countries or states from other continents are very likely to suffer from the consequences of such a breakup too.

Most financial specialists say that the main cause of a possible Eurozone crash is the huge debts many of the 17 countries cannot pay back. The fact that Greece was threatened by a default and that only another loan was able to postpone what some consider the inevitable makes things even worse. Analysts say that this financial crisis resembles the incurable diseases called cancer. If it is ignored it doesnt go away. Instead it spreads until the patient dies. If the patient is the Eurozone, only an intense treatment can save the Euro and the economies of the states that adhered to it.

There are some investors who speculate that the end of the Eurozone is close and try to find ways of making money out of this crush. Some of the financial analysts say that it is because of these people who speculate for their own interest that the Euro is threatened and that the Eurozone can fall apart. In spite of that, there are obvious signs that things are not as they should be and that the common currency might cause more problems than help.

Investors get scared of all the negative news they hear and try to do their best to preserve their wealth. Many of them fear that keeping money in banks is not a good solution and choose to invest in assets that have high intrinsic value. Many of them choose to invest in gold or other precious metals that are the only hard assets that seemed to increase their value these days. They are making the right decisions since buying gold has, is and will always be a profitable investment.

Understanding The European Health Insurance Card

If youre travelling abroad to a European Union country, its probably a very sensible idea to make sure you obtain a European Health Insurance Card first.

Its entirely free and available by application through the NHS own website. It provides you with access to emergency medical treatment in the country youre visiting, on the same basis as a local citizen. So, any urgent medical care they would get for free will also be available to you free of charge too.

However, great as this scheme is, its important not to make the mistake of assuming that the European Health Insurance Card will cover every medical eventuality. Thats because there are certain things the EHIC typically wont cover including:

Medical treatment defined as non-urgent by the local health services of the country concerned.

Your medical repatriation costs by air ambulance, should that be necessary.

The costs of additional accommodation should one of your family need to stay on with you while you recover.

Flights for a family member between the UK and the country youre hospitalised in.

The cost of any medical treatment in the country where that treatment is not normally provided to local citizens on a free-of-charge basis. Remember on this important point that not all EU countries are identical in terms of the health services they provide freely to their citizens. Some things that are free in the UK may be chargeable in other EU countries.

Elective treatments where you have opted to voluntarily undergo a medical procedure that was not deemed to be justified by an urgent medical requirement. Perhaps the most obvious example might be cosmetic procedures, but it might also include routine pregnancy checks, minor muscular aches and so on.

It also shouldnt be overlooked that the European Health Insurance Card is not holiday insurance. So, it wont cover things such as: loss or theft of your possessions; flight and other travel delays; third party liability claims against you and by the way, dont think this is only a motor insurance issue because it isnt. Third party liability can apply in any situation where somebody takes legal action for damages against you due to them having suffered injury or material loss that they hold you responsible for. If they win their case and a court awards damages against you, the sums could be significant.

Of course, it shouldnt be assumed that holiday insurance would automatically cover all of the above-mentioned things either. Its important to carefully read the detail of the cover provided by any travel insurance policy before purchasing it.

Nothing in the above is meant to devalue the importance of the European Health Insurance Card system. Its an excellent way of protecting your financial interests in certain health-related areas but you should not see it as complete protection.