Where The Euro Ends

By |2012-08-13T18:07:06-04:00August 13th, 2012|Markets|

Germany is the key to the euro.  The homogenized currency provided them with a labor cost advantage that has been the engine behind the robust export economy (a la China, Japan before 1986, etc).  In fact, the original sin of the euro (apart from the very notion of unelected supranational authority) was mispricing the D-mark into the euro schematic.  That [...]