TEc debate motion "This house believes the Euro area will fragment over the next ten years" - uncertainty is the key word:

As the debate winds down I feel none the wiser on key aspects that might make me vote for or against.
The motion is cast in stone enough that current multi-fold Eurozone vulnerability would be best defined as utter uncertainty.
While some argue that currency devaluation is a ready path to recovering lost competitiveness - an old recipe whose outcomes were never as straightforward in the past - they fail to see it has already happened.
The Euro has dropped by nearly 20% without the need for an official devaluation.From the onset of the Greek crisis to now trading conditions changed significantly enough that Eurozone-wide exports have become effortlessly more competitive.

Many are putting the blame at Germany's doorstep as if that country were simultaneously villain and saviour through times good or bad.
It has been obvious for a considerable length of time that Eurozone member countries demand greater integration on a fairly wide range of issues.
If anything the trying time the Euro is experiencing will force the need for closer coordination of economic policies.
The ultimate goal being that of achieving greater balance between surplus and deficit economies.
Three years - the time that has now been bought at a high price - should be enough to determine whether or not that goal is achievable.

While politics was vital defending the Euro thus far it cannot and will not on its own shield it indefinitely unless national governments do their homework responsibly.
And do it quickly and successfully.

As I see it the Eurozone is at an unenviable crossroads.
It mostly commands great potential to succeed or to fail in its present form and shape.