Tuesday, January 11, 2011
Flogging a dead horse
Euro is dead
Let's face it: Euro is finished. The question is whether it is going to be resurrected or buried.
Posted by ant @ 10:06 AM (1190 views)
6 thoughts on “Flogging a dead horse”
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Simon says:
The Lagarde interview Greg Pytel links to is very revealing .
When Kirsty Walk asks her whether the people of France voted for ever closer union her face hardens as she cannot bring herself to say “no” .
What a surprise .
Not only a lack of democracy but of honesty too .
Sooner this whole EU thing comes crashing down the better and if a few politicians get hoisted by their own petards then so much the better .
mrmickey says:
All they have to do is back the Euro with gold and hey presto you’ve got a single currency everybody can trust.
ant says:
@mrmickey: you’re right. Easy:-))))
icarus says:
There are ways of preventing a disorderly breakup of the euro but the ‘leaders’ are still in extend and pretend / delay and pray mode and show few signs of coming out of it.
ant says:
@icarus: as there in no more a single interest on sovereign debt in Euro-zone, by definition of what a currency is, Euro is NOT a single currency any more but some fixed exchange rate mechanism.
icarus says:
@ant – we could debate definitions all day. On that basis we could wrangle about the extent to which the US dollar is a single currency if the interest on state and municipal bonds varies across the US. Or Europeans might argue that the euro is just the first stage in developing a single currency. Doesn’t affect what I posted @3.