From the Atlantic: "The euro should be a real four-letter word nowadays" (HT:MN)

http://www.theatlantic.com/business/archive/2012/06/call-me-maybe-explains-the-euro-crisis-seriously/258435/

'Call Me Maybe' Explains the Euro Crisis—Seriously

JUN 14 2012, 1:00 PM ET

"The euro should be a real four-letter word nowadays. It prevents troubled countries from printing or borrowing money at the most inopportune time. And it makes them solve their uncompetitiveness problems in the most painful way possible: with wage cuts. Instead of devaluing the peseta, Spain has to force workers to take pay cuts in euros. That's an economic disaster. It makes both debt problems and unemployment worse.

The peseta is sounding better and better."