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Cameron Waugh
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Why the EU is doomed

- Alasdair Macleod - Finance and Eco.

The weaker economies can't offset trade imbalances with currency devaluation so Germany must continue to foot the bill to keep the Euro alive. Germany can't do this forever - and they won't!
Balance of trade must eventually be settled in gold with a return to national currencies.

Commented 2914 days ago

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Beginning of the headline :We are accustomed to looking at Europe’s woes in a purely financial context. This is a mistake, because it misses the real reasons why the EU will fail and not survive the next financial crisis.We normally survive financial crises, thanks to the successful actions of central banks as lenders of last resort. However, the origins and construction of both the the euro and the EU itself could ensure the next financial crisis commences in the coming months, and will exceed the capabilities of the ECB... Read More

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