Why a twin track euro is the only way to save the currency

Ten years on from the introduction of the euro, opinion is divided over whether the troubled single currency can survive another decade, especially in its present form.

Barings' head of fixed income and currency Alan Wilde said the euro will still exist in a decade's time but may well look very different. One scenario he outlined is that of a split euro, where there is disparity between the stronger and weaker eurozone players. "Realistically I think the euro will break out from the existing euro into harder and softer currency areas," said Wilde. "A harder currency will be driven by the Northern European countries, and whether France would survive in that is an open question. A softer currency would be driven by the weaker peripheral states." ...