A battered fortress

It’s easy to see why there’s increasing chit-chat about the single European currency being blown apart by the economic crisis. Monetary policy in the eurozone is relatively tight. The same goes for fiscal policy in Germany, the largest and strongest economy. As a result, the euro has been relatively strong. Not surprisingly, the eurozone’s weak economies - Spain, Ireland, Italy, Portugal and Greece - are hurting. In Spain, unemployment is already 13.9%. If only they could bring back the peseta, ...