Disastrous Love Affair

globalds

At root was a failure to grasp the elemental point that currency unions with no treasury or political union to back them up are inherently vulnerable to debt crises. States facing a shock no longer have sovereign tools to defend themselves. Devaluation risk is switched into bankruptcy risk.

http://www.telegraph.co.uk/business/2016/07/28/imf-admits-disastrous-love-affair-with-euro-apologises-for-the-i/

Disintegrate Or Amalgamate .. But don't expect to stay in flux for very long.

michaels

How many times does this need to be said. No one thought you could have monetary union without fiscal union, that was the whole point.

CLAPTON

michaels wrote: »

How many times does this need to be said. No one thought you could have monetary union without fiscal union, that was the whole point.

sorry you are in the minority and only the old and uneducated agree with you.

we know that the CBI, nearly all CEOs and board members, uni professors, graduates, business people, LibDems, loony left, most MPs and most of the great and good, MEPs, senior figures in Germany, France, Italy etc supported Britain joining the euro without fiscal union.