Dec 16, 2011

Eurodoom watch

Tyler Cowen and Kevin Drum join the chorus calling for breakup. Yglesias adds:
If I were an elected official, I'd be extremely reluctant to pull the plug on this endeavor even though it was misguided from the start and isn't functioning in practice. But I'd be leaping at the opportunity to be the second prime minister to bail on the whole thing if someone else went first.
Who will take that bullet? Anyone want to start a pool? Greece is the obvious choice, but they still seem quite committed, sort of how the smaller, poorer countries are still joining up, despite the obvious sucking chest wound the Euro has inflicted on nearly everyone in it. It might take a bolder, more confident state, or perhaps one with a great history but not-so-great present. Spain? Italy?


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