The sooner the better for the euro's endgame

The pain of keeping the eurozone together is too much. The sooner the peripheral countries go their own ways, the better for everyone involved.

An email arrives from Terry Smith. Like me, he has long thought that a breakup of the euro would be a total disaster something that would create such chaos and so many dominoing disasters that all efforts to avoid it (although doomed to failure in the end) have some value.

Like me, he is beginning to change his mind. The pain of keeping the zone together and forcing the peripherals to devalue internally when we all know that they will have to default and devalue in the end is just too much.

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Merryn Somerset Webb

Merryn Somerset Webb started her career in Tokyo at public broadcaster NHK before becoming a Japanese equity broker at what was then Warburgs. She went on to work at SBC and UBS without moving from her desk in Kamiyacho (it was the age of mergers).

After five years in Japan she returned to work in the UK at Paribas. This soon became BNP Paribas. Again, no desk move was required. On leaving the City, Merryn helped The Week magazine with its City pages before becoming the launch editor of MoneyWeek in 2000 and taking on columns first in the Sunday Times and then in 2009 in the Financial Times

Twenty years on, MoneyWeek is the best-selling financial magazine in the UK. Merryn was its Editor in Chief until 2022. She is now a senior columnist at Bloomberg and host of the Merryn Talks Money podcast -  but still writes for Moneyweek monthly. 

Merryn is also is a non executive director of two investment trusts – BlackRock Throgmorton, and the Murray Income Investment Trust.