INDEX	June 22, 2016
About a decade ago there seemed to be two choices for Europe. One idea was to split the euro zone so that there would be a southern euro (for Greece, Spain, Italy etc.) and a northern for Germany, the Netherlands and (possibly) France. The competing idea was that there would be much greater political integration in order to enable substantial fiscal transfers. Germany needed to bail Greece out not least to avoid the wave of poverty that has engulfed the country but also to enable the Greeks to buy more German goods. These seemed to be the two obvious choices. The Germans and particularly Angela Merkel decided there was a third choice. This was known as kicking the can down the road, or delaying decisions in the hope that something would turn up. Well something has turned up Angela: Brexit. Europe will never be the same again.
INDEX Jonathan Brind		June 22, 2016