It's Over

Gideon Rachman: Let the Euro Die!

And its best parts will survive.

In the ongoing euro-crisis negotiations, Financial Times columnist Gideon Rachman offers the obligatory contrarian take: it’s time for officials to toss the euro. “No summit is complete without the ritualistic declaration that Europe will do ‘whatever it takes’ to preserve the single currency,” he writes. But the shared currency has led to plunging interest rates in Southern Europe, and eliminated options for getting out of debt (like inflation and devaluation). "Key European achievements such as the single market, border-free travel and co-operation on foreign policy preceded the single currency and they can survive its demise."