The next 12 months will decide the fate of the eurozone. The problems of the single currency have not gone away and will again dominate this week's meeting of the International Monetary Fund in Washington. Every one of those in attendance knows that the crisis could erupt again at any moment; last week's sell-off in Spanish and Italian bonds was like the puff of smoke billowing out of a volcano getting ready to blow. Here's a summary of how things stand. The euro was constructed on the false premise that monetary union would lead to a harmonisation of economic performance across member states. Greece would become ... (full story)