In 1997, Arnulf Baring (of the German-British family of Baring bankers) unleashed the following 'Nostradamus'-like prediction of how the euro would end (from a German perspective)...
"They will be subsidizing scroungers, lounging in cafes on the Mediterranean beaches.Monetary union, in the end, will result in a gigantic blackmailing operation.When we Germans demand monetray discipline, other countries will blame their financial woes on that same discipline, and by extension, on us. More they will perceive us as a kind of economic policeman.We risk once again becoming the most hated people in Europe."
It appears that Arnulf pretty much 'nailed it'.
h/t @DanHannanMP and @K_Niemietz
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