Although the United Kingdom is not in the Eurozone, the City of London is Europe’s most important financial centre and obsessively follows the currency’s fortunes.
Britain’s leading free market think-tank, the Institute of Economic Affairs, has been asking if the Eurozone crisis is moving towards its end game. In April it brought together many in the City to debate the possible outcomes.
Not just whether the Euro –or at least the Eurozone in its present form- can survive but whether it actually will survive and perhaps most importantly whether it should survive.
Those who expect some kind of Euro break-up discussed whether it will be a relatively orderly affair, initiated by Germany and its allies, or the much more messy result of events spiralling out of control in one of the weakest economies.
For those who thought that the political will to save the Eurozone will prevail, there was a further issue. Would that be the best outcome for its members and for the wider European Union? What would it mean for the world in general and London in particular?
Read the rest of Nick Powell's article here .