LE CAPITAL

I came across an interesting article signed by Paul Krugman (Nobel price of Economics, Princeton Professor and NY Times columnist) drawing a detailed picture of the Euro crisis. Key take out is that the Euro zone who recently showed alarming sings of weaknesses will have a hard time, if ever, operate and perform as its American counterpart, the "Dollar Zone" (The United States of America) as it lacks essential elements of a normally functioning monetary union:  Federal authorities able to support performance of weaker links, an integrated fiscal system as well as cultural binds- strong reference to language. A parallel is drawn between two members of both "Economic Zones": The state of Nevada in the US and Ireland in EU to show how the notion of being part of a Nation makes one member better off in similar crisis scenarios A second one is drawn between the management of the current euro crisis and Argentina's confidence crisis (Early year 2000) t...