Euro. It’s a Design flaw. And it’s fatal

Eduardo Porter captured the sentiment of many in the run up to the launch of the single currency when he said this the other day in The New York Times: 

“Virtually every economist on this side of the Atlantic – and most of those on the other – figured out that the euro would be fatally flawed.  What took economists some time to understand was that Europe’s leaders didn’t much care what they thought.”

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