Steve Hanke, the architect of Bulgaria's currency regime and one of the opponents of its eurozone aspirations, has slammed the single currency as 'a creature of politics, not economics and finance'.
"The euro remains a creature of politics, not economics and finance. The hallmarks of this project have been more politicization, more centralization and more "harmonization", Steve Hanke wrote in an article, which was published as part of a Wall Street Journal symposium on the future of the euro.
According to Hanke, who is a professor of applied economics at the Johns Hopkins University in Baltimore, the future of the single currency will depend on Europe's avatars, but there are good reasons for the skeptics to remain skeptical....
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