The week that proved the europhiles wrong

Daily Mail
"This was the week that should convince even the most zealous champion of the euro that the game is up. For it was the week when the full, catastrophic consequences of imposing a single currency on 17 nations came home with a force that defies denial. On the political front, the euro stands exposed as incompatible with democracy. Economically, it has proved a destroyer of growth, jobs and livelihoods. .....All over Europe, growth forecasts are revised sharply downwards. And the European Commission’s head of economics admits: ‘A deep and prolonged recession complemented by continued market turmoil cannot be excluded.’ Yet even now, there are some who cling to the fantasy that with ever-larger bailouts here, and ever-deeper austerity there, the euro’s problems can be solved without radical reform. Well, that is a matter for the nations of the eurozone. If they can raise the unimaginable sums needed to carry on with their crippling experiment, on their own heads be it.What is clear is that British taxpayers should have no further part in bailing them out, through the IMF or otherwise."