Niall Ferguson: euro was 'a terrible idea' [video, 13 minutes 10 seconds]
The euro may survive as Europe's common currency, but the European Union itself may well disintegrate as a result of the European debt crisis, one of the world's leading economic historians says.
Niall Ferguson told the CBC's Amanda Lang on Tuesday's The Lang & O'Leary Exchange that the problems facing Europe's economy are very dire.
Governments in Ireland, Greece, Portugal and Spain have already been rocked by unsustainable debt loads, leaving stronger countries such as Germany's to steady them. Even the major economies of France and Italy have shown signs of weakness in recent months, casting doubt on the continent's single currency, the euro.
In the interview, Harvard professor Ferguson said while the continent's leaders have shown "a pretty deplorable understanding of the problems they have," he thinks the euro will ultimately survive the crisis simply because there is no other option....
comments powered by Disqus
- Poll: Majority Of Americans Say Obama Is Mixed Race, Not Black
- New technology helps paleontologists see Ice-Age bee in intricate detail
- History textbooks in crosshairs of Australia's curriculum wars
- Archaeologists' findings may prove Rome a century older than thought
- 150 years of medical journals to go online
- She Came All the Way from Melbourne to Attend the OAH
- The 7 Most Popular HNN Videos from the 2014 OAH
- U.Va. Historian Alan Taylor Wins 2014 Pulitzer for Book on Slaves and War -- His second Pulitzer!
- UW Professor Stephanie Camp, 46, feminist historian, dies
- Italian forces in WW2 were not soft and Mussolini wasn't a clown, British historian claims