Are There Three A’s in ‘Northern Euro’?

by Andrew Stuttaford

Open Europe reports that Holland’s Frits Bolkestein has become the first former EU commissioner to call for some sort of euro-zone break-up. Admittedly he’s something of a maverick, not least for his enthusiasm for the free market (and lack of enthusiasm for multiculturalism), but here’s what he told Algemeen Dagblad:

“The Netherlands has to exit the euro as quickly as possible . . . The monetary union has totally failed. The euro turned out to be a sleeping pill which made Europe doze off instead of thinking about our competitiveness . . . Let’s stop with the euro and instead strengthen the Single Market… We don’t need the euro for that.”

Open Europe notes that, as an alternative, Bolkestein has proposed a currency union formed of economically strong countries, a so-called “Triple A euro.”

And, yes, that sounds a lot like the northern euro to me . . .

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