''The euro is a macro-economic weapon of mass destruction - it simply must be defused''

from the telegraph.....

"Far more importantly, once the ECB has bailed-out profligate governments once, the same countries will over-borrow all over again a few years down the line. The markets will eagerly lend to them too, such loans combining a lucrative yield with a de facto ECB guarantee.

The job of any central bank, the ECB included, is to act as “lender of the last resort” to commercial banks in its jurisdiction that are solvent, but in need of temporary liquidity.

Central banks aren’t meant to dish-out free money to governments that have spent themselves into insolvency".......READ MORE