Nouriel Roubini and Nicolas Berggruen writing over at CiF acknowledge that the Eurozone is in crisis. That attempts to stem the collapse have, so far, failed. That the walls of the castle are still crumbling and the barbarians are still flinging rocks with their trebuchets across from the wilderness. Whatever the princes of Europe in their high shuttered palaces are doing, it ain’t working. This, we know. This, they know. This everyone knows, I suspect – even if they aren’t admitting it.
I suppose the logical thing to do would be for those states that are in dire trouble would be to default, return to their own currency and devalue. From there, it’s a rocky climb, but they would at least have the autonomy to manage their own economy according to their needs. I mean, Greece would become a cheap holiday destination, which would be good for business, I suspect.
What do our Guardianista think?
Only by moving forward towards full integration – now – can Europe save itself.
Well, it seems they want more of the same. That will work, won’t it? I mean, it’s been a roaring success so far. Why change a winning formula?