Exactly one year ago today I was with the family in the Christensen vacation home in Skåne (Southern Sweden) and posted a blog post titled The Euro – A Monetary Strangulation Mechanism. I wrote that post partly out of frustration that the crisis in the euro once again had re-escalated as Greece fell deeply into political crisis.
One year on the euro zone is once again in crisis – this time the focal point it the Italian banking sector.
So it seems like little has changed over the past year. After nearly eight years of crisis the euro zone has still not really recovered.
In my post a year ago I showed a graph with the growth of real GDP from 2007 to 2015 in 31 different European countries – both countries with floating exchange rates and countries within the euro areas and countries pegged to the euro (Bulgaria…
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Utopia, you are standing in it! 
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