The Eurozone: still as primed for collapse as ever

The Vineyard of the Saker:

To best gauge the stability of the Eurozone today, an appropriate way to start is to reassess how the Eurozone responded to their last crisis.

In 2012 the European Sovereign Debt Crisis peaked, and European Central Bank chief Mario Draghi resorted to the same tactics as Mike Ditka, the legendary American football coach for the Chicago Bears.

But both promised to do: “Whatever it takes”.

Ditka made his promise during the 1990 season and, like Draghi, he made it from a position of relative weakness:

Cont....