the future of the euro

FT columnist Samuel Brittan thinks that the eurozone will eventually break up, but “the timescale of euro disintegration is anyone’s guess”.

The Holy Roman Empire – which was proverbially neither holy nor Roman nor an empire – was founded by Charlemagne in 800 and lasted until it was dissolved by Napoleon in 1806. The German Confederation was inaugurated after the Napoleonic wars and had no real powers over member states. It was reinforced by a customs union (Zollverein) in 1834 and the whole rickety structure lasted until it was dissolved into the German Reich by Bismarck in 1871.

History may have since sped up, but we do not know by how much ….

Samuel Brittan, “Why the eurozone will come apart sooner or later“, Financial Times, 9 August 2013.

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