Oct 16 - Reuters Columnist James Saft says the European Union and the Euro are a fundamentally romantic notion, and should have been awarded the Nobel Prize for literary fiction.
Reuters columnist -- sat. -- peace. Or even had a stretch economics. European Union on get a Nobel Prize. As he is fundamentally a -- and imagination. Creation. At least for awhile the suspension is. This isn't really criticism. The Nobel Committee gave the EU this year's peace prize saying what's ahead with its evolution being at war content. Can't argue against. You remarkable is the way in which we as we witnessed the knitting together of the Euro area are rational people investors prided themselves only acting Darryl called. Totally missing the underlying structural. We bought. We believe the story. And understand that he got to turn -- and you Taylor oh. In the nineteenth century described on offer and hope a reader and willing suspension. For a moment. By giving romantic characters and totally unlikely events what are called. That's essentially what. -- account for all those pension fund managers and investors who bet on narrowing industry and Germany. -- And moreover he could see EU itself had no adequate protection against. Oh did you it was definitely playing in the background. You had an unworkable halfway house of common currency without comment taxation and applying to this people. In essence to close their eyes and buying into a pleasant action which may have had pieces -- -- oh and no -- ground. Even if you define economics -- is there. These people we're gonna do big important and good things and it was money being made going along awry. Doesn't really tell us very much -- -- and EU. And with -- euros fundamentally romantic notion. And it's hard to judge from the outside. That's not to say though it's gonna. There are tremendous. Difficulties and they're going to be tremendous political pressure that's only probably. I think that worries me is that. Once we punctured the suspension is once the illusion is gone. It's gonna -- -- harder. And really a viable. I'm -- the full explanation of why EU is her peace prize. Definitely.