Mats Persson: Yes, the euro will survive 2012, but be prepared for a very bumpy ride
THE euro is in such a poor state that asking this question has become almost cliché. In truth, as the crisis is overwhelmingly about erratic domestic politics, it’s absolutely impossible to predict when the euro will bite the dust.
What’s clear is that in the absence of some sort of fiscal union (likely to be collective borrowing amongst euro states in return for German-style budget rules), the single currency is doomed in the long-term. In the short term, however, there is still scope for plenty of muddling through – which is to say that there’s a strong chance that the euro survives 2012. So what is the likely good (an expression used loosely here) and bad news for the eurozone moving in 2012? And what would, to complete the phrase, an "ugly" scenario look like?