Eurozone officials must have guessed at the upheaval and social unrest caused by their austerity measures – and imposed them anywayNever in the history of the British media have so many commentators lavished such intense concern on so abstract a concept. I refer, of course, to the euro – because, once you get past the crude notes and coins, what could be more satisfactorily airy than the optimal conditions for a currency union across 17 nations? Over the past few days, from those first reproachful pips of the Today programme to the final credits of Newsnight, pundits and politicians, financiers and journalists have thrust and parried over how to rescue the single currency. Will it hold together if Athens marches out? Will Lisbon, Madrid even, have to lumber after it? But I have yet to hear discussion of a more fundamental question: is the single currency project worth saving at...
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