Europe - plugging the gaps © fintag

News comments:
Europe. You know my views. Since the day the Euro was launched I told you it would fail. A common currency only works if all parties have similar views on fiscal and monetary policy.

Obviously a mature economy like Germany is going to view economic management differently to a country with a low grade currency wanting to ride the strong Euro. So it has been no shock when after Punts and Drachmas were replaced with Euros these countries found they were unable to print money, change interest rates or influence their own currencies. So what hope does the Euro have when waiting on the sidelines are these countries gagging to upgrade their peanuts into silver pebbles [Editor: uh?] - Estonia, Latvia, Poland? Are these countries going to replace Italy, Spain and Portugal?

Here is a history lesson:

Which countries have adopted the euro – and when?
1999-2002 (Pegging and hard currency)
Belgium, Germany, Ireland, Spain, France, Italy, Luxembourg, the Netherlands, Austria, Portugal, Finland, Greece
2007
Slovenia
2008
Cyprus, Malta
2009
Slovakia
2011 (countries leaving the Euro)
Ireland, Portugal, Italy, Spain, Greece, France, Finland

Today's shorts:
Happiness (bloomberg)
Why I orgasm every-night over my Euro notes (europa.eu)

Today's longs:
Is the Euro set to collapse (2006 news article - moneyweek)
Labour says yes to the Euro (Feb 2010 - telegraph)

Gossip:
Bankers to be given bullet proof vests over the coming months.