http://www.counterpunch.org/2012/08/16/the-euro-is-not-in-trouble-the-people-are/.
Some excepts :
"One of the phrases frequently written in economic circles in the United States (and to a lesser degree in Europe) is “the Euro is going to collapse.” Those who repeat that phrase over and over again do not seem to know how the Euro was established, by whom, and for whose benefit. If they knew the history of the Euro, they would have noticed that the major forces behind the Euro have done very well and continue to do so. As long as they continue to benefit from the Euro’s existence, the Euro will continue to exist."
....
"In theory, the ECB was supposed to be the manager of the Euro. But the one that really controls the Euro, and the European financial system, is the Bundesbank, the German Central Bank. It was designed that way, as previously noted. But there was another reason for control of the European
The Euro and its system of governance are working beautifully for those who have the major voice within the Eurozone today. The ECB is instructing the governments of its monetary zone to dismantle Social Europe and they are doing it. It is what my good friend Jeff Faux, a founder of the Economic Policy Institute in Washington, D.C., used to call “the international class alliances,” that is, the alliance among the dominant classes around the world. That alliance is clearly operating in the Eurozone today. It is because of this that the Euro is going to be around for a long, long time."
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