Redwood: The origins of the euro crisis

The euro crisis is following a predictable path. The bills have increased greatly, and are being passed around in the hope the problems will go away.

Unfortunately the countries in trouble are spending too much and earning too little. That has to be tackled, as there will be limits to the patience and the amount of money the EU and the IMF can throw at this problem. The origins of the crisis stem from the establishment of the single currency. Its architects knew to have a sound currency they needed to recruit countries that controlled their debts and deficits, kept their inflation under control and managed their currencies to demonstrate stability against the others in the system. If they had stuck to these requirements, the singl...