Lars Seier Christensen: Time to wake up to reality and deal with the EUR rationally.

I don't think I have a lot of friends in Brussels and after my recent interview with Bloomberg, it is unlikely that I have become more popular. The Euro is Doomed was the headline from Bloomberg that got the attention of CNN's Richard Quest and other media around the world.

Actually, I have rarely received as many reactions from one single interview as I did after this one. Questions from clients and other journalists included: Is it really that bad? Is it really the Euro's fault? How will it play out? How do I protect against such an expectation? When will it happen?

Later this month, I will publish the book Europe: Integration Without Illusions by Vaclav Klaus, the Czech President and long-time Euro sceptic, in Denmark. Included in the Danish-language version will be a lengthy afterword by me, in which I try to place the President's excellent analysis into a Danish perspective as well as an updated financial market perspective. I believe the book, which is already available in English, gives an excellent insight into the dynamics that are threatening the markets and tearing Europe apart. I will translate a couple of chapters for publishing on this blog later - and I believe this will answer the above questions in some detail.

But for now, let me try to comment on the questions briefly.