People won't vote for subtitles

The Eurozone will fail. It may take a long time with false dawns along the way, but it will fail.

A currency cannot exist without fiscal integration. For awhile the evidence seemed to contradict this, but now we know. Fiscal integration will be unstable unless it is accompanied by political integration. For a time it might work with strong countries telling weak ones what to do but people won't tolerate that for long and they will want direct democratic control over the fiscal policy of Europe. And here is the problem. You cannot have political integration without linguistic integration. Nobody is going to vote for a politician that they cannot understand. Subtitles won't cut it. You need to hear the politician speaking to you in your own language.

And that won't happen. Ever.