The Euro started out as paper money on Jan1 2002 at 1.62 to the British pound. By 2008 The British pound dipped for a brief moment below one to one.
|A New Moon rising over the Euro sign at the ECB Frankfurt 2012|
The Euro was on a roller coaster ride, made invincible, or so it thought, by the presence of four major economies, France Germany Italy and Spain. It didn't matter much if petty little peripherals got into a spot of bother, these wise guys would take care of their gang members and protect their turf. In return the smaller soldiers would tough it out, grow up a bit and eventually become more like their bigger mates on the street.
As we are told by wise guys, if you don't hit hard at others coming to take over your street they will break every bone in your body. Hesitation or a flash of fear in the defender's eyes sends Teddy Boy a signal to take out the studded belt.
In the end, modern society as we know is more than a street brawl. It is a complicated economic and social rhythm of highs and troughs. A roller coaster ride designed by nature and modern capitalism. In the face of continued gang (bond markets) onslaught it can be better just to retreat from the fight. Devalue and become competitive. The flawed Euro has no chance of winning in its present shape. It is time the Euro wise guys realised there are many alternatives on the street. The Euro can be redesigned if they put safety before face, community before greed, principals before selfishness and see that new moon rising.