Germans determined that euro’s value will not erode
Greece has learned the harsh lesson that a currency must be backed by the certainty of credible policy
The debacle in Greece is sobering. The price of dogma and the easy slogan has proven to be a high one for the Greek government and its beleaguered citizens. For everyone else, the message that sharing the benefits of a trusted and internationally accepted store of value also brings responsibilities is now unambiguous.
The long dominance of the Deutschmark in European monetary affairs was rooted in the credibility of the policies underpinning it ...
