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Old 16.01.2015, 16:45
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Re: Aftermath of SNB EUR Peg Discontinuation - Would you be happy to take a 20% pay c

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Is the end of the Euro near?

That's the real question...

The European currency union should have been limited to EU countries with good and stable economies:

Germany, Austria, Benelux and Finland.

I think the German government made its biggest post WWII mistake by allowing so many EU countries with bad economies (and that also includes France) to join the Euro. Other EU members such as the Brits (as always) and the Scandinavians were much wiser to keep their own currencies.

Here is a cartoon published in la Tribune de Genève:

Come on with the EUR bashing already. Yes it is not working, but the problem was no the concept, the problem was and is the half-ass implementation. You can't have one ECB and 20 different economy ministries. It was never going to work. If they had the balls to go full out and centralize the economic ministries then we could get somewhere. The US has rich areas, and poor areas, and they're managing somehow with their structure. The problem is that if in 2002 Europe tried to harmonize the economic policies overnight it would be chaos obviously.

What they should do is start harmonizing economic policies, targeting at a single economy ministry sitting somewhere in Europe and be done with it. That could make the EUR a powerhouse and yes it could make the glory days of mid naughties not an overvalued dream, but a fundamentally solid currency.

The problem is they were going for the low hanging fruit instead of going the full nine yards, and now people forgot when it was everything was all nice and well and are looking at each other's throats. And with that sentiment unified Europe as a concept fades more and more.

And getting back to the topic at hand,

If there is a nuclear winter, would you eat your neighbour sharing the building shelter, or would you offer yourself to them?

I mean, since we're asking silly questions about silly scenarios, let's go crazy here...

Wait for the dust to settle, the price to calm down, then wait to see how actual performances will be, and then maybe in a year or so we will see if anyone's getting laid off.

FFS, it's not like EMEA hqs are going to move shop overnight...
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