Cliff Küle's Notes:

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(Untitled) Nov 4th 2013, 19:02, by noreply@blogger.com (Cliff Küle) Southern Europe  Is On A Precipice Ambrose Evans-Pritchard explains why the euro has become a sort of curse .. "The euro's founding fathers dreamt of a superpower currency to match the dollar, freeing Europe from US monetary hegemony. Charles de Gaulle grumbled that America enjoyed an 'exorbitant privilege' as holder of the world's reserve currency, able to get away with murder. Now they have one themselves, only to discover that it is a curse." .. points out China is waging a currency war on the euro by buying lots of euros - "China's motives are not entirely friendly" to capture greater export share of its products into Europe .. Evans-Pritchard explains how the relatively strong euro is creating tension between creditor countries in the northern part of the euro zone & debtor countries in the southern part of the euro zone .. thinks if the euro zone does not change its current contractionary policies, it could force Southern Europe into a deflationary death sentence. LINK HERE to the essay link here to the related essay

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