"But wait, it might not be necessary to dump the euro. Chancellor Merkel and President Sarkozy have agreed on a plan of salvation which they will lay in front of the other 25 EU leaders later this week. It will involve strict observance of fiscal rules and penalties for non-compliance. The task of auditing individual countries will be handled centrally by the EU in Brussels, the same body that has had its financial accounts rejected in every one of the last 17 years; no danger of bungling or fudge there then."
