Den europæiske tragedie

The euro was a bad idea from the start. When it was launched a galaxy of eminent economists warned that it was a bad idea with the potential to be a real disaster. Most also predicted that it would not last, and that the longer it lasted the worse the ultimate debacle would be. This view was not confined to any one economic school or part of the political spectrum: Milton Friedman and Paul Krugman both warned against the adoption of the euro in almost identical terms.