Finnish and Catalonian similar thoughts on the Eurocrisis – to some extent

Via Ambrose Evans-Pritchard:

If the countries of the periphery were on a gold standard, they would have already been forced out of it. The euro-induced depression is a breeding ground for populism, anti-politics, extremism and bad-blood in general; it is a toxic environment for dreams of an ever closer Union.

The course of events demands a lifting of the taboo surrounding the dissolution of the euro zone. If solidarity cannot be achieved through a progressive reform of Europe’s economic institutions, then perhaps it is time to consider taking them apart. Perhaps the only way to save the Union is to ditch the euro.

This was written by a Left-wing Catalan economist, here, and in Finnish I wrote something very similar, although I did not explicitly say any one country should leave the euro (although it starts to look like a risk worth taken, in the light of years of recession, hysteresis and political unrest).

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