Tuesday 27 September 2011

The euro. Am I being alarmist?

One of my blog readers has complained that my previous blog is alarmist.  Well, it is a point of view. I draw your attention to the link below:

http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100012223/frau-merkel-it-really-is-a-euro-crisis/

A quote from the article:

It is the existing status quo that risks bringing about the economic depression, social collapse, street populism, nationalistic backlash, cross-border hatred, and the violence so feared by the bank.

The problem for the EU integrationists is that dismantlement of the euro will put back, if not destroy, the rush to ever greater union/integration. They see the problem of the euro as an opportunity to press for greater fiscal and political union.  The consequence of the ill-conceived eurozone collapsing will challenge the very existence of the EU in its current form, hence the failure to perceive the current issue as a euro crisis rather than a debt crisis.

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