"An invisible financial wall, potentially as dangerous as the Iron Curtain that once divided eastern and western Europe, is slowly going up inside the euro area.Anything that portents to predict the rise of a new European 'curtain' is something that should be noted. The demographic and cultural collapse of the most secular of states in Europe is well underway. Evidently they might have presaged an economic collapse as well.
The interest rate gap between north European creditor countries such as Germany and the Netherlands, whose borrowing costs are at an all-time low, and southern debtor countries like Spain and Italy, where bond yields have risen to near pre-euro levels, threatens to entrench a lasting divergence."
As a Christian, I cannot help but note that the solution being proposed would bring the world closer to that mega-state which a fundamentalist reading of the Book of Revelation depicts as signaling the emergence of the predicted anti-Christ. I bet that there will be lots of predictions of doom and gloom should Europe finally move to become in reality one single economic entity.
Eurozone fragmenting faster than EU can act | Investing | Financial Post