Don’t let the title of this article lead you to think that it is some extremist rant about the future of the Euro. Actually, it is one of the most simple and cogent explanation of the economic trap within which the Euro-zone finds itself that I have found. It also explains why it is highly unlikely that the structural problems can be fixed without ending the currency.
As an aside, it would be good for Americans to understand what role we, as a nation, play in the cycle between Mercantilist Nations and Consumer-Debt Nations — so eloquently laid out at the beginning of the article. We’re about halfway through the cycle; and that’s not a particularly good thing.