Businesses Plan for Euro to Go The Way of the Dodo
“Go the way of the Euro” may become the new catch phrase of the 21st century just as the “Go the way of the Dodo” was the old catch phrase of centuries long ago.
The dodo is one of the best known extinct animals and its disappearance led to its use in popular culture to symbolize a concept or object that falls out of common usage or practice, will or has become out of date, or will become a thing of the past. All three of these common meanings of “Go the way of the Dodo” are equally fitting to the plans that corporations are making right now for the end of the Euro.
Moreover, the comparisons of the Euro to the Dodo are also quite remarkable when discussing the possible derivations of the name “Dodo.” Some people claim that the word is derived from the Dutch word “dodoor” meaning sluggard. This derivation seems quite fitting for describing the pace of the actions taken by finance ministers around Europe concerning the survival of the Euro. Yet other people claim that the word is derived from the Portuguese word “doudo” meaning fool or crazy. This derivation also seems to exactly describe the people who are the finance ministers around Europe. Thus, the Euro has great symbolic possibilities to upgrade that 19th century saying.
Earlier in November, German Chancellor Angela Merkel and French President Nicolas Sarkozy mentioned that Greece leaving the Eurozone was a possibility. Since then, small companies such as Diageo which makes alcoholic beverages have realized that a massive devaluation may occur if the Euro becomes extinct. Moreover, imported brands to these countries become very, very expensive.
More recently, large corporations such as Siemens, the engineering group, have founded their own banks in order to deposit funds with the European Central Bank directly. Other large corporations are evaluating the legal consequences of a Eurozone spit for cross-border commercial contracts and commercial loan agreements.
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