Some of these problems in the euro area have nothing to do with monetary policy

[bobspud]

Lets not forget that one of the key Euro objectives for Germany was to make the products on the other sides of their borders compatible on price. They were selling VW at almost twice the cost to a German than a Fiat bought in Italy in Lira (probably more) There was nothing to stop the germans shrugging off VW and opting for cheapness... Thats what Germany wanted to stop so they sold the idea to the weaker economies that they could become pegged to the DM.

Its kind of against the motive of the Euro to say that the cheap countries cant be in it otherwise the Euro zone becomes a club of strong countries with the power to buy everything cheap from next door...

[xoggoth]

Solution to the EURO crisis? End the EURO, or at least rewind to where it should be if it had been done properly, a slowly evolving union where only nations with compatible economies entered and others had a long transitional period, only entering when laws, economies and attitudes of it peoples were suited.

I think a lot of the tales of economic armageddon (relative to the what will happen if we carry on like this anyway) are the scare stories of the EU fanatics who can't bear to see their ridiculous project fail.

The euro now equals poverty and deflation - Telegraph

PS By ridiculous project, I don't mean united Europe, it's a great goal, just the daft notion that it can be created in a few decades to suit the super inflated egos of our glorious leaders.

[petergriffin]

...says Draghi.
It's your job to fix crisis, ECB tells governments | Reuters

"There is no sort of horse trading here," he told a news conference.
"Some of these problems in the euro area have nothing to do with monetary policy ... and I don't think it would be right for monetary policy to fill other institutions' lack of action."

I can't believe I could ever agree with that geek!