Thursday, 20 September 2012

Roger Bootle on Breaking up the euro

Roger Bootle, economist and columnist, states in this video that,
  • The business of leaving the euro is actually quite simple. Citizens will initially become worse off, but eventually they will become better off as GDP, employment etc increase
  • The southern four countries, Spain, Greece, Italy and Portugal, will have left the euro area within the next five years
  • He would advice France to get out of the euro area as they will become even more uncompetitive when the other four countries leave (as the euro will then appreciate)
  • The euro has been a gross historical error, it wasn't necessary for the EU, it has caused enormous suffering in a number of countries 
  • The euro should be taken apart


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