It is not in my nature to wish failure on projects very often as I do not care for negativism - in this case however, I must make a giant exception.There are more than hints, in a wide variety of places, that the euro may struggle to survive the present crisis. The Telegraph, The Wall Street Journal and The Economist have all pondered the possibility, even probability, of its failure.
As best as I understand this, the differences between bond yields from the stronger and weaker nation economies are critical. The fact that one-size-fits-all cannot possibly work is seeing its chickens finally come home to roost!
EU- realists have long argued that you cannot hide completely different financial systems all under the same fiscal umbrella.
But let us remember that many high officials - Eddie George just one of many - have informed us that the euro was always a political rather than an economic tool.
It has been the cement to try to hold the EU, shabby brickwork together.
If it fails - the European Union is quite possibly going to follow - at least in its present, imperialistic form.
The UK NOT being in the euro has annoyed europhiles for many years - even they may soon have to give thanks that even Brown was not so stupid as to join.
Indeed, history may look back at this era and declare this to be Brown's single redeeming feature.
Even so, I wish I could share the optimism of the Blogster in the link below!
