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It will be a race to the bottom with the U.S.
Excepting the bourses may it all happen as you say. At the end of time all nations are to proceed to the heavenly Jerusalem for the judgement to come. How can this happen while the EUSSR continued to suck the lives out of the ancient nations?
There never was a "European nation" to begin with, in the sense that there is a Russian nation or an American nation - the whole EU was a phony construction. Economically having the thrifty hard working Germans and the spendthrift lazy Greeks under the same currency made no sense either. The whole project was basically Germany wishing for absolution - you could never be a German patriot again after Auschwitz but maybe someday you could be a European patriot. The project suited the French also = Frances image of itself as a world power no longer matched the reality but a united Europe with France at the helm was a plausible world power. In other words the whole thing was about fantasy and wish fulfillment and never made any practical sense to begin with.KK
The decision by the UK to stay out of the Euro now looks quite good.Anon.
The sterling was kicked out of the EMU by the wunderkind George Soros in 1992. I envy this amoral man, like a modern day Jekyll and Hyde he's no doubt back to his tricks; shorting the Euro hand over fist while at the same time preparing another warning to us plebians of the dangers of unfettered capitalism.
I am not sure he is betting against the Euro. Something else will give first. The Germans are harder to crack than the Englanders.
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