[Zero Hedge] In 1997, Arnulf Baring (of the German-British family of Baring bankers) unleashed the following 'Nostradamus'-like prediction of how the euro would end (from a German perspective)..."They will be subsidizing scroungers, lounging in cafes on the Mediterranean beaches.
Monetary union, in the end, will result in a gigantic blackmailing operation.
When we Germans demand monetray discipline, other countries will blame their financial woes on that same discipline, and by extension, on us. More they will perceive us as a kind of economic policeman.
We risk once again becoming the most hated people in Europe."
It appears that Arnulf pretty much 'nailed it'.