The eurozone is not only a financial disaster, it is fast becoming a social disaster as well, warns Matthew Lynn in The Telegraph, adding that buried under discussions of growth rates, bail-outs and banking harmonisation is the fact that the "eurozone is turning into a poverty machine". In an article for the Financial Times, he writes: "The euro has become a tool to keep people poor by keeping them out of work. There could not be a more shocking indictment of the currency’s failure, or a more potent reminder that living standards will only improve once the euro is either radically reformed or taken apart. Lynn warns there could not "be a more shocking indictment of the currency’s failure, or a more potent reminder that living standards will only improve once the euro is either radically reformed or taken apart."
The eurozone is not only a financial disaster, it is fast becoming a social disaster as well, warns Matthew Lynn in The Telegraph, adding that buried under discussions of growth rates, bail-outs and banking harmonisation is the fact that the "eurozone is turning into a poverty machine". In an article for the Financial Times, he writes: "The euro has become a tool to keep people poor by keeping them out of work. Lynn warns there could not "be a more shocking indictment of the currency’s failure, or a more potent reminder that living standards will only improve once the euro is either radically reformed or taken apart."