The January 16 New York Times Sunday magazine has a long article by Paul Krugman discussing the history and future of the euro. I’ll excerpt the conclusions here, but the article itself really deserves to be read. Click here for a direct link.
What does the future hold for the euro? Here are the options outlined by Prof. Krugman:
(1) Toughing it out
(2) Debt Restructuring
(3) Full Argentina
(4) Revived Europeanism
If you want to know more, read the article. Make sure you’re sitting down and in a comfortable chair.