TheBigShort
Registered User
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I don't proclaim to be expert in these affairs, but from my armchair it is becoming clearer and clearer as time progresses.
News from Italy, on the back of political uncertainty is unsettling, at the very least.
The €uro is failed experiment. It is a one-currency-fits-all-economies.
In its relatively short history, it has done more to destabilize the economies of the eurozone than it has to bring any form of alignment.
Euphoria, exuberance, easy credit, overheating, debt spiral, bankruptcy, bailouts, money printing, political instability, crisis...are all adjectives and words that you can associate with the €uro.
Stability is not a word that you could plausibly associate with the €uro.
The question what to do? Wind it up in as orderly fashion as possible over the next decade or continue with the pretence that as a currency it commands the loyalty of Eurozone citizens and that politically "whatever it takes" - Draghi, will support its continued existence?
Personally, I think it is a dead duck as it stands.
Italy's woes are continued evidence of that.
I say that as someone who voted for Treaties to facilitate the €uro and supports the concept of the single currency.
With the exception that world central banks are moving closer to a one world currency (including a universal basic income) then I don't see how it can limp from one crisis to another without political instability driven btyy economic forces eventually breaking it up.
News from Italy, on the back of political uncertainty is unsettling, at the very least.
The €uro is failed experiment. It is a one-currency-fits-all-economies.
In its relatively short history, it has done more to destabilize the economies of the eurozone than it has to bring any form of alignment.
Euphoria, exuberance, easy credit, overheating, debt spiral, bankruptcy, bailouts, money printing, political instability, crisis...are all adjectives and words that you can associate with the €uro.
Stability is not a word that you could plausibly associate with the €uro.
The question what to do? Wind it up in as orderly fashion as possible over the next decade or continue with the pretence that as a currency it commands the loyalty of Eurozone citizens and that politically "whatever it takes" - Draghi, will support its continued existence?
Personally, I think it is a dead duck as it stands.
Italy's woes are continued evidence of that.
I say that as someone who voted for Treaties to facilitate the €uro and supports the concept of the single currency.
With the exception that world central banks are moving closer to a one world currency (including a universal basic income) then I don't see how it can limp from one crisis to another without political instability driven btyy economic forces eventually breaking it up.
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