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Euro meltdown would pave the way for another Great Depression
The euro's future is all our futures. Whether or not you like the single currency, the world economy's health depends on its survival. Should the euro collapse, we will find ourselves heading into another Great Depression. Its establishment removed the currency risk which had inhibited investment across the eurozone. Suddenly, a single European capital market became a reality. Germans could invest in Italy, Spaniards could invest in France and Belgians could invest in Portugal. National borders which had so limited economic opportunity simply dissolved. Its arrival led, within Europe, to a turbocharged version of ... (full story)