Here's a rather interesting - although perhaps not a new - perspective on the euro. Slightly more optimistic than the doom and gloom that are commonplace these days (yes, we're guilty too).
James Rickards, an American lawyer, economist and investment banker (and a notorious Fed money printing critic), and author of bestselling "Currency Wars", published in 2011, has, somewhat counter-intuitively, rushed to defence of the euro.
In an interview with Goldmoney, Rickards sets out the two main reasons why he's "bullish" on the euro:
1) There's sufficient political will amongst EU leaders to introduce fiscal transfers from north to south, thereby paying the price to keep the euro intact
2) The eurozone sits on a formidable backstop, as its member states hold more gold than the U.S. (8.133 tons vs. more than 10.000 tons), noting that the size of the UK debt mountain could be of more concern than that of the eurozone (despite, we would add, total debt levels in eurozone being higher than those in the U.S).
Rickard is actually convinced that the euro will in some way be pegged to gold eventually, as that is the only credible backstop that the euro has at its disposal.
We're not entirely convinced - but an interesting perspective. You can watch the interview below.