Nearing the End of the Eurozone?

“Europe is revolting against ‘sameness,’” observes Dan Denning. “The French want to be French. The Dutch want to be Dutch. The Greeks want to be Greeks. None of them want to be German. And the Germans want to stay German. All these primal, tribal, political loyalties are in conflict with the sameness and conformity required by political and monetary union.”

Nigel Farage, leader of the UK Independent Party, heartily agrees. Farage, who has been an outspoken critic of the eurozone since its inception, remarked recently on RTTV’s Capital Account, “One of the ironies of the European project is that this project that was set up to make us all love each other is actually beginning to make us hate each other… Far from Europe coming together, Europe is being torn apart and we are risking stirring up the very kind of nationalisms that the project was supposed to stop in the first place.”

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The Daily Reckoning