With US dollar's crown of being the world's reserve currency in danger of slipping away, there is a lot of debate around what would take its place. And until recently it was hoped that the Euro seemed the perfect replacement. But not anymore. Increasingly, experts are of the view that the European Union faces a serious risk of implosion. Notable amongst these is George Soros. The hedge fund titan recently commented that his worst fears about the Euro are now confirmed. As per him, instead of showing solidarity, the European Union has actually become every country by itself.

He is totally on the ball we reckon. The problem with the Union is that although it has a common currency, it does not have the ability to issue common debt. And as the New York Times points out, this has created a friction between creditor countries like Germany and debtor countries like Greece. This in turn has led to Germany doing just enough to keep these countries afloat and not taking radical measures that will pull the EU out of its misery. Thus, unless it does that, the risk of a Japan like stagnation, loom really large as per us.