Greek Crisis Highlights Euro Paradox at Heart of Eurozone’s Plight
Common currency fuels imbalances while curtailing member countries’ ability to address them
By GREG IP
Before there was Jon "Jon is it?" Hilsenrath, there was Greg Ip. If an Ip article appeared in the right hand column of the WSJ under his byline, the "sources" were believed to be Greenspan himself. And markets responded aggressively. I'm very glad to see Mr. Ip back at the Journal where his information can be utilized more quickly than the Economist.
The above quote comes from today's article about the fundamental flaws in the single currency concept that is the Euro. The article is a must read, not just because we have held many of the same critical views here, but because Mr. Ip's by-line tells me participants high in the EZ food chain are questioning the Euro's core mission.
We highlighted some similar views last week here: