Euroen kan ikke lade sig gøre. Indse det dog. Hannans artikel lidt længere nede i posten, er ret god:
Is this really the end?
Unless Germany and the ECB move quickly, the single currency’s collapse is looming
Nov 26th 2011
Even as the euro zone hurtles towards a crash, most people are assuming that, in the end, European leaders will do whatever it takes to save the single currency. That is because the consequences of the euro’s destruction are so catastrophic that no sensible policymaker could stand by and let it happen.
A euro break-up would cause a global bust worse even than the one in 2008-09. The world’s most financially integrated region would be ripped apart by defaults, bank failures and the imposition of capital controls (see article). The euro zone could shatter into different pieces, or a large block in the north and a fragmented south. Amid the recriminations and broken treaties after the failure of the European Union’s biggest economic project, wild currency swings between those in the core and those in the periphery would almost certainly bring the single market to a shuddering halt. The survival of the EU itself would be in doubt.
Mere HER i The Economist.
Sanity in Numbers
Tim Congdon – December 2011
Angela Merkel, the German Chancellor, is reputed to be a sensible, level-headed lady. So when she claimed in the eurozone bail-out negotiations that their failure could threaten continued peace between Europe’s nations, the media latched on to her words. Could it really be true that, 66 years after a world war that had been calamitous for her country and its people, the leader of Germany was warning of a similar horror? Would that be the price to be paid by Europe’s citizens if their single currency area were to disintegrate?
A fair comment is that Merkel’s remarks caused bemusement to many not directly involved in the negotiations and able to maintain a degree of objectivity. The United Nations has 193 members, while the European Union has 27 and the eurozone 17. One hundred and seventy-six countries do not have the euro as their currency and 166 do not even belong to the EU.
Mere HER i Standpoint Magazine.
How Brussels Stifles Democracy in Europe
Daniel Hannan -December 2011
How could so many clever people get it so wrong? The flaws in the euro project are not just clear with hindsight; they were visible at the outset and were widely pointed out. It was never going to be possible to jam widely divergent economies into a single monetary policy. It was plainly reckless to invite Italy and Greece to join the new currency when their government debt was at twice the permitted level of 60 per cent of GDP. Plenty of doubters said so at the time. Yet, in every national parliament, in every central bank, in every university faculty, in every television editorial conference, there was a collective suspension of disbelief.
Why? What were they thinking? If you listen carefully to what Euro-integrationists were saying when the single currency was launched, you hear a subtext. It’s not so much that they liked the euro, it’s that they disliked the people who opposed it. Listen, for example to Charles Kennedy in 2002:
Mere HER i Standpoint Magazine.