DER SPIEGEL holds obituary – The Euro is Dead

A coffin, draped in the Greek flag and a photo of the Euro hovering over it wrapped in a black ribbon, was the demise of Germany’s Der Spiegel magazine, which this week decided to come out with a whopping article entitled “Sudden and expected – The obituary of a common currency”.  The article claims that the development of the Eurozone has become the Union’s worst enemy. At the same time it notes that the Euro might of indeed united a group of economies, but they never corresponded with one another. The author also states that Europe is threatened economically on all fronts and has already gone bankrupt.”
In Athens, Greek Prime Minister George Papandreou said it’s in Europe’s interest to find a solution to the country’s debt crisis after European Union Finance Ministers left open whether or not they will give Greece all the funds it was promised next month under its bailout deal. And if that wasn’t enough, the IMF sent a simple message to the Greek people earlier today saying “prepare of more of the same” as Greeks struggle to cope with the austerity measures being imposed on them in exchange for a bailout:

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