Aristophanes

Was Milton Friedman Right About the Euro?

Only the strong nations (Germany, France) could afford to leave. And they won't. The smaller players would bristle with trade defenses and the interruption globally would be the equivalent of the Smoots-Etc.

Ironically, this crisis might, in the mid- to long-term strengthen the Euro by forcing the delinquent countries to get their finances (and demographics) into shape.

The author asks:

"Was Milton Friedman Right About the Euro?"

Well, he was wrong about everything else ;-)