Insurance Age blog: Out with the new and in with the old
I think the Euro will collapse. For what it is worth, and I know I'm no economist, I cannot see how it will survive even if the German chancellor, Angela Merkel, and French president, Nicolas Sarkozy, succeed in agreeing a rescue package, put by some commentators at €2trn.
Douglas McWilliams, chief executive of the Centre for Economics and Business Research, funnily enough is an economist. And he puts the case much better than me.
"It seems unlikely that it [the Eurozone] will survive very long, because of the political unpopularity of taking austerity measures seemingly to please foreign leaders and rescue foreign bankers," he says succinctly.
All in all, my theory is not so much when or if, but how the break-up of the Eurozone will be managed.
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