- The euro is basically unbreakable as the cost of leaving has increased. The amount of discipline necessary to keep the euro together is unprecedented.
- And countries have shown willingness to undergo that discipline, and others to function as the disciplinarian.
- This means that economically, the euro is a lot stronger than many probably think.
- However, this comes at a price; politically it’s a lot weaker. In the next downturn when countries are once again called upon for that economic discipline, something is likely to give.
The Hard Euro Is An Assault On Democracy
May 30th, 2017 · No Comments