Everyone's taking potshots at the eurozone these days and given the number and clumsiness of European "leaders" running around in the open it's like a turkey shoot down at the country fair. Even those who couldn't hit a barn at 100 ft. can go home feeling like sharpshooters.
Nevertheless, analysts from outside Europe's "hard core" have it all wrong. They presume the eurozone to be all about finance and monetary policy and, having made this fundamental mistake, conclude that the euro is untenable, no more than a rickety structure about to crash as weak-link peripheral countries like Greece and Ireland (or even - perhaps - Spain ) buckle under the strain of their large debts.
However, the establishment of the European Union over fifty years ago and the adoption of a common currency are not guided by money and economics, but a common vision for peace and prosperity after centuries and centuries of constant, bloody war. Since 1300 AD (at least) there has never been a period of 50 consecutive years of peace in Europe - except now (excluding the "police action" in former Yugoslavia). That alone says a lot.
There is no way that Europeans and their leaders are going to let the euro and the EU collapse; there is simply way too much at stake. Does anyone seriously think the Germans - to name only one nation - want the EU to fall apart? The Europeans who arguably suffered the most as they lost not one, but two world wars? C'mon..
To paraphrase Bill Clinton, it's the politics, stupid!
So, here's my wish for Christmas 2010 : Peace On Earth.
Have a wonderful holiday, all.