The euro has not brought Europe closer – it has ripped it apart

The euro has not brought Europe closer – it has ripped it apart - Europe, World - The Independent
"The scale of Greece's problem is simply stated: her national debt will approach 160 per cent of GDP on current trends.
Here in the UK we are supposed to be in crisis because that ratio is heading for about 75 per cent.

Unless the Greek economy grows at an astonishing rate, the interest on that debt simply cannot be paid out of any conceivable tax take, while the spending cuts and austerity packages are conspiring to push the economy into depression"