Five Reasons the UK Recession Will Get Much Worse

[AtW]

It may be a financial disaster but not an economic one. The countries in the Eurozone would have been much worse with their own national currencies.

It really cracks me up to see such posts.

You don't know tulip because you've never lived in a country who had tulip currency that can go down massively against reserve currencies (euro is one) in which most goods (food, fuel, etc) are priced.

I did witness that first hand which is why (plus a few brain cells necessary to make simple calculations) I say categorically that countries that are now in euro and would have dropped out of it (or had their own currencies) would be totally and utterly fooked.

They'd be fooked because their currencies would drop 4-5 times against USD/EUR, and costs of fuel/food would be crazy high - nobody would lend them after default and they'd have inflation that would make Sir Merv new saint.