The usual Economist Left fear mongering in their essay titled ‘The wild ones’, in the face of the slow motion collapse of the Neo-Liberal paradigm. That paradigm embraces both the E.U. and the euro, with Ms. Merkel as the enforcer of that political/economic orthodoxy. Expel from your thoughts that Germany was bailed out four times in the 20th Century (1924, 1929, 1932 and 1953) for the particulars on Benjamin Friedman, the esteemed economic historian’s address to a collection of central bank governors, see this from The Financial Times:
http://www.ft.com/intl/cms/s/0/927efd1e-9c32-11e4-b9f8-00144feabdc0.html
On the Euro, as a checkmate on Keynesian interventionism, see Gregg Palast’s informative essay titled ‘Robert Mundell, evil genius of the euro’
http://www.theguardian.com/commentisfree/2012/jun/26/robert-mundell-evil-genius-euro?CMP=share_btn_tw
Also read Yanis Varoufakis’ essay titled ‘Austerity Is the Only Deal-Breaker’ at Project Syndicate as reply and challenge to Philip Stephens essay at The Financial Times.
Varoufakis
http://www.project-syndicate.org/commentary/greece-government-reforms-by-yanis-varoufakis-2015-05
Philip Stephens
http://www.ft.com/intl/cms/s/0/61aa05b0-fe1d-11e4-9f10-00144feabdc0.html#axzz3b0VFoQ6E
But for the pièce de résistance of Left Wing fear mongering, nothing quite matches Columbia Business School Professor Charles Calomiris on Bloomberg Surveillance:
http://www.bloomberg.com/news/videos/2015-05-05/greeks-playing-a-crazy-game-of-chicken-calomiris
Also see this reply to Prof. Calomiris :
https://stephenkmacksd.wordpress.com/2015/05/27/bloombergtv-prosyn-columbia_biz-cwcalomiris/
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