Wednesday, May 1, 2013
The latest data on unemployment is above (through March, but only through Jan for Greece). Things have improved slightly in Ireland and have been stable (but bad) for a month or two in Italy and Portugal. However, Greece and Spain continue to compete for the "Worst developed country to live in" award. Or possibly, "Most compelling reason never to join a currency union".
When I was young and living in the UK, I was vaguely pro-Europe, like most other youngish lefties. My grandparents were bitterly opposed to losing the pound, out of unthinking knee-jerk conservative resistance to change, as I saw it. I now see that unthinking knee-jerk conservatism can be the right instinct at times.