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EuroZone Crisis

Let me be upfront on this issue - I was, I am and I will continue to be a Eurosceptic.   Monetary union was a political decision, not an economic one.  The hubris of the European political elite meant that they rushed ahead with the euro project, virtually ignoring the views of their electorates.

As much as I want to gloat, the seriousness of the situation is such that the political and social stability of Europe (which was the original raisin d'être of the European project) is at risk.  How can we fix the EuroZone?  Do the European elite and the German electorate have the appetite to bail out their EuroZone partners?  Economists and commentators have a variety of suggestions.  You can listen to Prof. Philip Lane's proposal here. 

My own view is that the euro cannot be saved in its current format.  The big question is whether its collapse will result in wider political and social upheaval.

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