That’ll be a euro, mate...

Five rolls for the morning? One euro. A simple drink at any summer event? One euro. A packet of chewing gum? One euro. The list is endless.

And the problem is that “one euro” is very often twice the amount these things cost before 2002. Can it be that inflation in the intervening period justifies these huge price hikes? If you believe that, you’ll believe anything…

Another frightening truth is that before 2002, coins had some value. It may not have been much but it was worth keeping them in your pocket. If you managed enough, you could buy yourself a snack. These days, the cent coins are only useful because there are too many notes in circulation. See how many you need to pay for a coffee, or a litre of milk!

“That’ll be a euro, mate!” In the squares, in the cafés, at corner kiosks, the parish council fete, it’s always the same. Not more, not less – but at the end of the day, “one euro” satisfies nobody. Those that spend it say they’ve been overcharged. Those that receive it say they can’t make a profit! Could there be a greater paradox?

This strange economic dynamic is aggravated by the lack of liquidity that affects almost everybody. And in small and medium-sized businesses, all attempts to save money bring little reward. Even with the best accounting skills, there’s something about this new currency that pulls everything backwards.

These days, it couldn’t be clearer that people are having huge difficulties living with the Euro. It’s incredibly difficult to earn (at least if you mean to earn it honestly), and it’s so volatile that it disappears faster than water in the desert.

Another sad truth is that since 2002, the Euro’s first year, crises have flourished: whether it’s the deficit, sovereign debt, recession or the troika – they all boil down to the same thing: an increase in the cost of living.

Of course, in a perfect world this currency would bring with it many advantages – but what sense does it make in an impoverished country where the minimum national wage is €485? Another paradox?

In April last year, economist Nouriel Roubin predicted that Portugal would have to leave the Euro. It’s an opinion shared at the beginning of this month by Desmond Lachman, former assistant director at the IMF – and it’s almost certainly correct.