As the Euro celebrates its tenth anniversary, Vaclav Klaus, the President of the Czech Republic, says:
“The question is whether the eurozone countries and their citizens have cause to celebrate. The answer is uncertain, given the zone’s sluggish economic growth, great growth differences among countries and large differences in inflation, even though a single currency should [...]

I am a Euroscpetic. I admire the political will of Europe’s grand designers in creating the Euro, but I have always felt that harmonisation would be a painful process fraught with tension – especially during economic downturns. And so it is today.

While we all expected house prices to slow and even fall in bubble markets like Ireland, the UK and Spain, it comes as news to me that prices are slowing in Germany as well. I was just in Germany this past month, and while there were economic concerns, the atmosphere felt entirely different than it does in a place like the US.