Euro IS Broken And Cannot Be Fixed.

From: Nick Martinek, Briarlyn Road, Huddersfield. Yorks Post.

IS there anyone left who still thinks that the euro was a good idea? Well, of course, it is difficult for the euro’s previous supporters to admit they were wrong. So expect a few europhiles and EU-besotted politicians to continue to try to put off the day of reckoning, despite the 1930s depression-era levels of unemployment and ruin in Greece and Spain.
The point is, as it is presently constituted, the euro cannot be fixed. Like most other countries the UK controls its own currency, so our financial errors can be remedied. That doesn’t mean they will be, for our current PM, David Cameron, strangely appears more concerned about keeping a strong euro than fixing our own economy.

But the euro cannot be “bailed out” in perpetuity. It is broken. And there are two euro crises: a widely discussed debt crisis; and an ignored productivity (differential) crisis. Both are caused by locking disparate and diverging economies together at one point in their currency history. The only solutions are either for the eurozone to become the EU equivalent of the USA overnight or, to dismantle the euro with every EU country returning to their own currency, like the UK has.
It is highly unlikely that the eurozone nations can be melded into a politically and fiscally centralised United States of Europe quickly enough – there are too many national and constitutional barriers. So the best solution is undoubtedly to break up the eurozone. But europhile politicians have a vested interest in preventing this. Hence their dire warnings if it is tried. Yet their failed alternative, on offer for the last two years, has been ever more unbelievable “bail-outs” that do not work and prolong the misery.