The Euro region is the second biggest economy in the world. When(if) they get over their differences and go for fiscal union as well as monetary union, it will work just fine.
The Germans and French were the architects of a united Europe but, as is human nature, they won't protect that union by injecting the necessary funding.
The periphery Countries need German and French money but refuse to give up their sovereignty.
It will never happen Steve. 
I bet it will..
Germany: "Give us control or we stop the EU bailing you out."
Greece: "Ok"
Germany: "Thanks, welcome to the United States of Europe."
Easy.
Nope, Albs is right. Merkel has been humiliated in recent local elections and the majority of Germans are fed up with bailing out non-performing countries.
Greece will default and reintroduce a devalued drachma. The EU will collapse. (Pretty please!
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Topic: Govt borrowing. (Read 1707 times)