By Derek Thompson – Here is what this chart shows. Compared across more than 100 factors measured by the World Economic Forum Global Competitiveness Report, from corruption to deficits, JP Morgan analyst Michael Cembalest calculates that the major countries on the euro are more different from each other than basically every random grab bag of nations there is, including: the make-believe reconstituted Ottoman Empire; all the English speaking Eastern and Southern African countries; and all countries on Earth at the 5th parallel north.
Germany doesn’t want to establish any sort of “Peripheraid” — a permanent transfer program from the core to the periphery. more> http://tinyurl.com/bwvf86v
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- Why the euro is doomed to fall apart: it was an incredibly stupid idea in the first place (blogs.telegraph.co.uk)
- The Key Difference Between The US And Europe In 1 Simple Graph (businessinsider.com)
- No way out, Economist
