Vítor Constâncio, vice-president of the European Central Bank, has blasted any break-up of the euro as “absurd” and “unthinkable”.”For people who really understand what it means to have a monetary union, it’s really unmanageable and unthinkable.
Amazing!! This bod is clearly not among those who understands, and yet he is helping to run it!! No wonder it’s a shambles.
Vitor Old Bean – try to get your head round this:
A) A serious monetary union must have a proper central bank able to act as a “lender of last resort” as well as harmonised tax and economic policies -in other words, a fiscal union = a single country. All serious economists understand this (indeed, all brainless plebs have grasped it, too – as is clear from this very post) and indeed TOLD you lot this BEFORE THE EURO STARTED
(OK so far?)
B) The eurozone has not got ANY of this stuff and WILL NOT GET it if we are to believe Frau Merkel. Moreover no bastard has voted for it either.
ERGO
YOU ARE NOT IN A PROPER MONETARY UNION but a fudged up, mismatched, unbalanced, unworkable, undemocratic and destructive currency-sharing fiasco created for political purposes by reckless second-rate and fundamentalist zealots.
I hope this makes things easier for you.
