Opinion (Lars Seier Christensen, co-chief executive officer of Saxo Bank): “There’s a lot of political capital invested in the euro. It is very much a political project rather than an economic project. But at the end of the day, I believe that the challenges are so great that something has to give. And unfortunately, reality has a way in the end of reinforcing itself over policies, and I think that’s exactly what’s going to happen here.”
“’… The euro’s recent rally is illusory and the shared currency is set to fail because the continent hasn’t supported it with a fiscal union.
“‘The whole thing is doomed,’ Christensen said in an interview at the bank’s Dubai office. ‘Right now we’re in one of those fake solutions where people think that the problem is contained or being addressed, which it isn’t at all’” (Source: Bloomberg).
My Comment: I don’t feel like gloating with respect to this issue, but feel only pain when just 20 years ago, on a trip to the French Atlantic coast, I saw big campaign trucks everywhere that had cards and literature about the importance and profitability of the European Union. And I was saying to my companions how impossible it all was because the economy is the CONNECTION between us, and if it is between egoists, then it would not lead to anything good. That is, a human being has to be corrected first. Today, we have come to this result.