bankers

The future of the euro?
Well the Greek financial crisis is back in the news again. Mind you there's been some stiff competition of late, the royal wedding and the death of Bin Laden for example. But what we read about Greece is different, less dramatic, stale even, as it's about a year since the Greek bailout was announced. Also the root of the problem goes back such a long way it seems boring. It's not only Greece too, since their problems became newsworthy Ireland and Portugal have taken a turn. All the way through this saga there have been suggestions that the euro was, as a grand project, ill conceived and has been poorly managed since its introduction. The past behaviour of euro-stalwart Angela Merkel, taken as an example, shows that nerves are frayed. In real business, as opposed to the make-believe of the EU, there's a point when a failing venture is closed down. It goes into bankruptcy to avoid 'pouring good money after bad'. The point to remember with the EU is those doing the pouring are using other people's money. It's not for them to face up to reality.