It seems only a matter of time before the Eurozone as we know it will be gone. The question that remains is how do we survive it.
It is not just a problem with Greece but the Euro system itself. What was the logic in coming up with a rigid continent-wide single currency system when the needs on the ground in each country were different? Is it any surprise that the system is now unravelling?
The problems facing the Euro system suggest to us that economic decentralisation and the principle of subsidiarity is still the best option.
Read this article, The End of the Euro: A survivor’s guide from the EconoMonitor blog.