Death by a thousand cuts

We really need to do something proactively to kill off the Euro before it kills us.  I cannot believe that the folks in Brussels do not understand what is happening.  Like the Gold Standard before it, any attempt to burden a country with a currency whose value is fixed with reference to an external datum is going to lead to a depression.

In Cyprus we have the ultimate absurdity: the only way to keep a country in a union, the whole point of which is to ensure the free movement of capital, goods and labour, is to restrict the free movement of capital.

There is only one way to make currency union work and that is to have political union.  But that cannot work in a continent of twenty seven (soon to be twenty eight) countries, each with their own languages, histories and traditions.  Nobody will vote for subtitles and nobody will give up their language.  Even if the whole continent adopted English as a common language (surely the only sensible choice), differing levels of mastery would make politics impracticable.

Europe will remain in economic stasis unless and until we scrap the Euro.