Nov 262012

The real dividing line in the EU is not between the 17 eurozone members and the 10 non-members, but between the group of the “ins” and the “pre-ins” and the group of the “outs”. Britain is clearly in the latter category and so is the Czech Republic. Denmark and Sweden are also in there… In the end, it does not matter whether the outs leave the EU formally, linger compliantly on the fringes or whether the eurozone leaves them. A messy divorce of some sort will take place, at some point, possibly still quite a few years away…. The reality is that there is no sustainable biosphere that is outside the eurozone, but inside the EU.”  Wolfgang Münchau, Financial Times

 Posted by at 9:20