Wednesday, May 19, 2010

The euro is in danger

Says Merkel: "This challenge is existential. And we have to rise to it. The euro is in danger. If we don't deal with this danger, then the consequences for us in Europe are incalculable."

German chancellors, in my experience, do not normally use strident language, yet this is positively apocalyptic. The Germans have a problem ... and so do we. The trouble is, I don't think we (as in the UK) are taking it seriously enough yet.