When will the euro collapse? It’s already dead

Wednesday, August 15, 2012
By Paul Martin

By Matthew Lynn
MarketWatch.com
Aug. 15, 2012

LONDON (MarketWatch) — Anyone who spends their time analyzing the euro debt crisis will know that there is one question you get asked again and again. When will the single currency finally collapse?

You can have fun giving a spuriously precise answer — July 28th, 2014, is my favorite (look it up on Wikipedia if you are wondering why).

But the truth is no one really knows. The euro EURUSD +0.04% could stagger on from crisis summit to emergency bailout for another decade. Then again, it could be gone by the end of the month — if Greece is refused its third bailout, the country may be kicked out, and the entire currency could unravel over the course of a few chaotic days.

In reality, whether it is a few months or a decade away does not make as much difference as you might suppose.

Why not? Because in most of the ways that actually matter, the euro is already dead.

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