My reply to John Redwood this morning - Greece Euro Exit!

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Martin Cole
Posted May 8, 2012 at 6:20 am | Permalink
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Hear, hear! Bravo!

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An extract:

Mrs Merkel’s vision of a German disciplined EU with strict control of budget deficits is merely producing a no growth Europe with very high taxes. Rich and enterprising people are leaving the most stressed countries, or sending their money abroad. The tax base is falling. The private sector is being squeezed too much. People are voting against it, and against incumbent governments. The cash economy is thriving as people run shy of the tax collectors.  Just like the Exchange Rate Mechanism before it, European monetary ideology is taking too great a toll of people’s jobs and living standards.