Euro stands as the smoke of battle clears
Extreme fears of an end to the euro proved to be wrong. The union will require greater fiscal solidarity, but national identities will not be lost – and the currency will survive for the forseeable future.
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Comments PolicyI don't recall seeing an article from Philip last year suggesting that claims that the Euro problem were intractable were exaggerated/incorrect (Euro stands as the smoke of battle clears, February 1)...
Like most such articles,this one makes the tragic -and very common-mistake of assuming a temporary lull equals a win (Euro stands as the smoke of battle clears, February 1).
It's a pointless argument because nothing significant has been fixed.All they can do is claim a win and hope nobody remembers what they said next time it all blows up.
The best point made is equating the Eurozone countires to the states of the USA (or Australia). (Euro stands as the smoke of battle clears, February 1.)
If one state stuffs up its economy because of bad management, the other states are not expected to bail them out.
Same deal in the Eurozone. They will try to help, but they aren't just going to keep paying for another's dumb decisions.