It's becoming obvious, I think, that the monetary union in the EU is a failure. Can't have nations with such varied economic situations tied together under a single currency.
Also think we are reaching the end of the road of the credit system of economics. Falling apart everywhere. Fake bubble booms created everywhere in the last couple of decades. Spending more then you make, both at a personal and national level, has to by definition come to an end.
Either club med nations go back to being poorer but living-the-life, or reform themselves and become like Northern European workaholics.
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