Euro zone to split ?

Reuters reports that senior European policy makers 'theoretically' discussed the possibility of splitting the European union to two circles:
  1. an inner, tightly integreated, Euro-zone; 
  2. an outer circle, loosely connected. 
Now that it isn't just England talking about it, chances for an EU-split are growing. It may very well be that in the coming months we shall see countries like Greece liberated from the tight control of the economic commitments of the European Treaties.

Will it do such nations any good ? Inflation is never a nice thing, but as long as it is not hyper-inflation, it sure beats sovereign default...

One thing is clear, though: Once again, the dream of economic unity has crashed on the shores of real-politics. When the next round for union-ideals rises, it had better be a union which includes all sides of government responsibility and governability: monetary control, budgetary control and regulatory control, all have to lie in the same guiding central hand.

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