As developed market policymakers prepare for the break-up of the euro and EU politicians scramble to prevent banking destabilisation, it seems the endgame may be in sight.
Andrew Hunt, founder of Andrew Hunt Economics and formerly an economist at Dresdner Bank Group, discusses the range of possible outcomes to the eurozone crisis. Full political union: Aligning of currency and state (1% probability) To be fair, this is what many of the original war-scarred architects of the euro intended – Trichet himself once admitted the euro was intended as part of an eventual process that would lead to abolition of the individual nation states. What seems clear is that the operation of a European single currency regime in an environment of minimal average growth ...
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