With Euro/dollar below parity, lets talk exchange rates
The David McWilliams Podcast
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Is There an Argument for a Two-Teared System?
i think that there's so much political capital invested in the urea now, it's very, very hard to change. Europe doesn't have yet a federal fiscal system, so there's nothing to take the steam out of ireland. And there's no central fund to inject vibrancy into croatia or greece or italy or spain and all these other countries that are going to join in time. So tis the fundamental problem of being part o of the uro zone. It's the fundamental opportunity.
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