RealClearWorld – There Is No Sunlit Future for the Euro

Hurrah! The eurozone’s crisis will be solved at the European Union’s summit this Sunday. So participants at last Saturday’s meeting of finance ministers of the group of 20 leading advanced and emerging economies have suggested. Will such hopes be vindicated? No. It is conceivable – if unlikely – that the eurozone will find ways to manage its emergency. It is inconceivable that it will cure the illness, partly because members are in denial about its nature and partly because it is a chronic condition.

Understandably, outsiders, terrified of another global financial shock, are putting fierce pressure on the eurozone’s members to deal with its interlinked crises of sovereign and banking illiquidity and…

via RealClearWorld – There Is No Sunlit Future for the Euro.

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For nation shall rise against nation, and kingdom against kingdom: and there shall be famines, and pestilences, and earthquakes, in divers places.
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