Silvio Berlusconi could end the charmed life of the euro

Politicians campaigning for the break up of the euro have so far been confined to the fringes of politics, says Matthew Lynn. Until Silvio Berlusconi got involved.

It would be hard to describe the euro as a lucky currency. It was flung together by a group of politicians who cared a lot more about statecraft than they did about economics. It was created during what (with the decline of the dollar and rise of China) was always going to be a turbulent decade for the global monetary system. And it had to contend with the greatest financial crisis of the century before it had even hit double figures.

But in one respect at least it has led a charmed life. In none of the 17 member states has there been a credible political leader campaigning for its break up. But that is about to change.

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Matthew Lynn

Matthew Lynn is a columnist for Bloomberg, and writes weekly commentary syndicated in papers such as the Daily Telegraph, Die Welt, the Sydney Morning Herald, the South China Morning Post and the Miami Herald. He is also an associate editor of Spectator Business, and a regular contributor to The Spectator. Before that, he worked for the business section of the Sunday Times for ten years. 

He has written books on finance and financial topics, including Bust: Greece, The Euro and The Sovereign Debt Crisis and The Long Depression: The Slump of 2008 to 2031. Matthew is also the author of the Death Force series of military thrillers and the founder of Lume Books, an independent publisher.