My proposal is simple: Split the euro zone into northern and southern part! This solution worked perfectly when Slovakia and Czech Republic divorced, in 1993. Technically it can be made “overnight” or within a few days. Just a silent preparation period and political agreement is needed. During Czecho-Slovak split, Slovakia needed weaker currency and more independency. Now it is the case for the southern euro zone members? And what about France? Although by many indicators, France is exactly in the middle of the euro zone club, I my opinion, France belongs to the South, with no balanced budget since 1974. Current center-right government is protectionist as any previous ones and a victory of leftists is expected, potentially catastrophic scenario to the state finance. Although today, the Czech government is against entry into euro zone, we would be struggling to get into North euro zone: The Czechoslovak and Czech monetary policy since 1918 is very strict.
Posláno dnes do Financial Times. Pochybuji, že to zveřejní. Je to proti jejich politice.