The twilight eurozone?

At the beginning of this year, who would have bet on the potential disintegration of the euro?

Yet now, discussion of a possibility, which only a few months ago would have been classed as purely academic, is being raised by the leader of Europe’s largest economy. However, it is not just the possibility of the end of the single currency investors have had to deal with. The unexpected ban on some shorting activities by the German government has added to the sense of general eurozone panic. Markets reacted with alarm as regulators and governments joined potential sources of surprise volatility. After all, does the unilateral ban on naked shorting of eurozone government debt and Ge...