Advancing a Free Society

No Free Haircuts

Wednesday, June 22, 2011

Are Europe’s politicians trying to save the euro or sink it? Their pattern of delay and equivocation has become a source of genuine concern for those observers who care about the common currency’s continued existence.

But like the three deceased characters in the 1944 Sartre play “No Exit” who are locked in a room together for eternity, there is no exit for the participants in the euro project — no matter what Europe’s politicians do. The pain of leaving would be too great.

When I asked a high-ranking Dutch official if he could contemplate the Netherlands ever leaving the euro, the answer was: “Never — we are making too much money from it.”

How so?

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