Germany's Euro Exit Must Be Seriously Considered - Leading German Economist Bofinger
Quote of the day:
"Without a fundamental change in strategy in the coming years, the euro will not survive economically or politically...The eurozone today is in the middle of a deep tunnel. Should it remain in this uncomfortable situation, there would be only two possibilities. Politicians must try to find the way where the output of the monetary union gets connected through a political union. If they lack the power or the courage to do, they must seriously consider whether it would be better to return to the entrance point, that is, to the world of national currencies."
Peter Bofinger, leading German economist, Professor of monetary policy and international economics at the University of Wuerzburg, member of the German Council of Economic Experts. (Source: WirtschaftsWoche)