The Euro Can’t Break Up

  • The euro is highly dysfunctional, it confers few economic benefits, has been an economic disaster and is a source of political problems within the EU.
  • It was never easy to leave the euro, but on balance, for countries like Greece, Portugal, and Italy, it seemed a good idea.
  • But new collective action clauses in bonds and increasing Target2 imbalances make leaving the euro next to impossible.

The Euro Can’t Break Up | Seeking Alpha