The eurozone is in serious trouble and whether it survives is still 50/50. The Italian and Spanish governments are now being charged four times more than Germany to borrow. This can't go on for very long. It makes a mockery of the term monetary union. It is, in fact, an exercise in monetary apartheid, where one set of economic citizens is treated totally differently to another. Quite apart from the ludicrousness of the situation, the present penal interest rates on the periphery versus the historically low rates in the core will ultimately make the recession worse all over the eurozone.
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