Game over. The euro as we know it is coming to an end. It is no longer clear whether we are talking about a proper monetary union or about a system of fixed exchange rates. This situation was to be anticipated. The different member countries no longer trust each other. It is impossible to build a monetary union when there are so many differences of opinion and so much divergence. We knew already that the design for the euro was institutionally incomplete. The monetary union launched in 1999 lacked a banking, fiscal, and political union to back it up. But …read more
Source: The Huffington Post
