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A commentator talks about the euro, dismissing euroskeptics and euro bashers, arguing that it will be (perhaps) the new world currency? Could be possible, but first we have to work our way through the Eastern economy issues (in the West Ireland is the way down), but that is likely to happen, and the euro will survive and prosper. The ECB can be bashed for not acting quickly enough etc. but the reality is that we shouldn’t face the problems down the road that the US and UK will face, Euro bonds are not failing at least [yet]. A prominent economist I had lunch with said he felt our drop in GDP would be closer to 12% than 10%, the same guy told me last September that rates would be 1% by Summer 09′ and I laughed at him! Let’s hope get is fallable at least some of the time.
