Greetings Regular Joes,
I normally put these in the Editorials section for those who might be interested. But this article may be the best written article on the euro debacle I’ve ever read. It doesn’t hit everything. That would take voluminous set of books. But it hits the nail on the head, and definitely helps the reader understand what’s really at stake. I hope it helps you think through the times we face.
For the eurozone, the worst is yet to come
Across the single currency zone, fears are rising and, even in the most moderate nations, populations are becoming more restive. History is locked on fast-forward.
Some say that seemingly arcane economic policy debate doesn’t matter. In the UK, in particular, but across much of the rest of Western Europe too, the political and media classes have long displayed a tendency to roll their eyes whenever anybody with even a smattering of economic insight has had the audacity to show it.
For the bien pensants, ignorance of financial issues has been a badge of honour. Economics has been dismissed as a “trade”. To hold well-researched views about commerce and asset markets has been seen to be a suspect arriviste “striver”. Such is the prejudice of those cosseted from economic reality, their minds dulled by generations of inherited wealth. Well, such minds created the euro and what a disaster the euro has been. And the greatest disaster could yet be to come.
Read the full article, via For the eurozone, the worst is yet to come – Telegraph.