http://www.bloomberg.com/apps/news?pid=20601087&sid=a3SIOdqSGOtE&pos=5 Countries are indigenous to their kind.....as are their issues.... The telling sign of success/failure of a blanket currency is when severe financial problems requiring "bailouts by their peers arise".... So....is the EURO going to work out ? The implications for the US currency ? Lessons learned ?
Milton Friedman said the Euro wouldnt survive it's first crisis. I'm sure a lot of Dollar bulls here would agree. Stress between Western Europe and the rest is high but is there a breaking point somewhere and where? Who knows.
This is rather massive news - not sure I agree with it, but I would have expected it from Evans-Pritchard. A small bloomberg clip that doesn't seem to be carrying any weight elsewhere - especially in EUR/USD at the moment. Bring back the Drachma.
Ireland is in a heap of trouble They talked about this possibility last year, except they also included Spain as having to leave.