AP Photo

The euro is doomed to fall apart: no, not because I'm some nasty man in UKIP but because the basic idea was such a terrible one. Our chart above (from JP Morgan Asset Management, which you can see more easily by clicking here) shows just how terrible it was. It would, in economic terms, have been better to have a new currency for all countries beginning with the letter M than for the eurozone. Or for all countries that have the 5th parallel North passing through them.

Yes, of course, we all know, the euro is the bright new dawn, the vital step in stopping Germany from invading France. Again. No one seems to have noticed it that they managed it last time and having experienced the place seem to have no desire at all to go back. So this might not be a problem that...