Sunday, 17 January 2010
Let Greece Go Bust.
What happens to Greece is going to be a fascinating test for the euro. In the Spectator this week, I've written a piece arguing that EU should let Greece go bust (and incidentally, Mark Gilbert wrote a great piece for Bloomberg on a similar theme). If they bail the Greeks out, the euro will be doomed in the medium-term: it will be a weak, political currency. If they stand firm, however, it could be the making of the currency.