Okay, call me nuts and I don't really believe that our government or Department of Finance folks have this sort of courage, but what if our government has suddenly realized that the euro doesn't suit our economy? Would it be better to leave the euro with our tail between our legs or to hope for the complete collapse of the currency?
The more I think about it the more I think we have nothing to lose. There's no reason for us to simply quit the euro like bad children being asked to leave the playground (although we should never have joined and never have been allowed to join).
Either the Germans (& others) stop pussy-footing around and pledge a genuine solidarity with us, one that includes sharing the pain of the bailout (which was made in large measure by their banks and our forbearance of the cost of German reunification on exchange & interest rates when euro was born) OR we refuse to play ball and trigger a complete collapse of the euro.
If the euro collapsed there would be economic upheaval throughout the EU, particularly in eurozone countries. However, I'm not sure it would be much worse here than what we're facing anyway.
I would never have had such thoughts if not for the noises from Herman von Rompuy today. He sounds like the guy running through a burning building screaming 'Don't panic' while he tries to find the emergency exit.
