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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.
Originally posted by centurion1211
As enamored as U.S. liberals seem to be with Euro-style socialism, this is great evidence for why we don't need to try it here.
Absolutely nothing about Socialism.. And Socialism didn't damage the EURO..
Originally posted by Dermo
Why does everything with ye Yanks have to revert back to Socialism or Obama?