Friday, May 21, 2010

Whatever Germany does, the euro as we know it is dead

Whatever Germany does, the euro as we know it is dead - Telegraph
"This is why the euro, in its current form, is finished.

The game is up for a monetary union that was meant to bolt together work-and-save citizens in northern Europe with the party animals of Club Med.

No amount of pit props from Berlin can save the euro Mk I from collapsing under the weight of its structural dysfunctionality.

You cannot run indefinitely a single currency with one interest rate for 16 economies, when there are such huge fiscal disparities"

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