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Single currency just doesn't work; Views of the North.

THAT politicians throughout Europe can have been so easily misled into believing a single currency could be applied throughout the EU with its numerous diverse economies, beggars belief.

The paradox of a single currency is that it only works when it is not needed, ie. when the economies of the member states are in balance, a situation which does not apply now and probably never will.

Thus, America urging the EU members to save the Euro, an artificial currency, is fatuous.

In the long run there is not a cat in hell's chance of saving the euro or the European Union, which is a failed experiment destined for the garbage bin of history.

PHILIP WARREN, Gosforth
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Title Annotation:Letters
Publication:The Journal (Newcastle, England)
Date:Sep 21, 2011
Words:116
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