Nigel Farage and Nickolai Hubble discuss why the euro is doomed to fail, and review the book that explains how it’ll happen: How the Euro Dies.
Claim your complimentary copy of How The Euro Dies by clicking here.
I hope you enjoyed the interview. And I hope you’ll take up the offer to get your complimentary copy of How the Euro Dies.
But if you’re not quite convinced, let me tell you about why I wrote the book…
Not so long ago, I was a believer in the euro. At least, it benefitted me hugely. And that’s all there was to it.
My family moved around Europe when I was growing up. And I continued to do so since, as well as travelling. So the euro was great for me. Convenient and all that.
But everywhere I went, people complained about the common currency to me.
My German family didn’t want to share their currency with the Greeks and Italians. The Greeks and the Italians hated their high exchange rate that the Germans kept propping up.
Nobody could agree on the right interest rate between all those vastly different nations either.
My little sister’s Irish godmother thought property prices were going mad thanks to low interest rates. But in Germany, the same rates were too high for the German economy which was stuck in the doldrums. Instead of lowering rates as they could on the Deutschmark, huge and painful tax and welfare reforms called Hartz IV had to be put through.
When the worm turned and the 2008 crisis struck, Greece and Spain were unwilling to put through the same sorts of reforms the Germans had, preferring to be bailed out by the Germans and the European Central Bank…
It turns out that a currency is not something suited to a “one size fits all approach”. Countries need their own exchange rate and interest rate.
Nigel Farage opened my eyes to how the euro is behind so many of Europe’s problems during the European Sovereign Debt Crisis. Since then, I’ve been a sceptic.
But it wasn’t until recently that I discovered just how bad the euro truly is. And the dangerous imbalances which are being built up in the background. Imbalances which very few people in the world understand.
The fact that the euro has lasted so long should surprise you. But once you understand the Target2 system, you’ll realise that it is now living on borrowed time.
And that is why you need to read this book. You can claim your complimentary copy here.
Editor, Fortune & Freedom