We are repeatedly told that the euro is «irreversible». That there is «no alternative». That leaving it would mean chaos.
That's exactly what we always say before a monetary system collapses.
History is implacable: no currency imposed by a technocracy, with no sovereign people behind it, has ever survived in the long term. The euro is no exception. It is no longer a question of opinion, but of mathematics, debt... and time running out.
By Ludovic Malot, entrepreneur & economist, Author «Monetary Suicide» published by Maïa
We must have the courage to say it clearly: the euro is a doomed construction.
Not out of ideology, but out of arithmetic, history and political logic.
All the great artificial currencies imposed from above, with no sovereign people behind them, have ended in the same way. The euro will be no exception.
A currency without a nation: a historical anomaly
No sustainable currency has ever survived without :
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a sovereign state,
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a joint budget,
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a politically unified people,
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clear democratic accountability.
The euro has none of these foundations.
Twenty countries, with opposing economic structures, incompatible tax cultures and divergent economic cycles... linked by a single rigid currency. This is a macroeconomic aberration.
Already in the 1960s, Jacques Rueff warned:
«Inflation is the most unfair tax because it hits the weakest first.»
This is exactly what the euro is doing today.
A debt and imbalance machine
The figures speak for themselves:
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Average public debt in the euro zone : ≈ 90 % of GDP
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Italy: ≈ 140 %
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France : ≈ 112 %
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ECB: past balance sheet 1,200 billion in 2007 to over €7,500 billion
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TARGET2 imbalances : more than €1,100 billion for Germany alone
These figures do not describe a healthy currency zone, but a permanent headlong rush, made possible only by printing money and financial repression.
Rueff was already talking about this drift:
«The budget deficit is the modern form of bankruptcy.»
The euro has not eliminated crises: it has pooled them, masked them and made them worse.
The ECB: the technocratic heart of the problem
The European Central Bank is not a traditional central bank.
It is a unelected political body, which :
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sets the rates for 450 million Europeans,
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silently redistributes wealth through inflation,
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chooses which states survive... and at what price.
When a currency can only survive through artificially low interest rates, massive debt buy-backs and constant breaches of the rules, it's no longer a currency: it's a control device.
The euro as an instrument of domination
The euro is no longer a project for prosperity.
It has become a disciplinary tool :
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austerity imposed on the people,
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budget blackmail,
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Putting states under trusteeship,
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progressive destruction of national sovereignty.
No technocratic tyranny is eternal. History is clear: when money becomes an instrument of domination rather than exchange, it always ends up being rejected.
How the euro will disappear
Not by a vote.
Not with a solemn conference.
But by :
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a major bond crisis,
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an irreversible North-South divide,
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a sudden loss of confidence,
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or a unilateral exit triggered by necessity.
All the major artificial currencies die the same way: by reality.
Conclusion
The euro will not be saved.
It will be abandoned.
Not because people suddenly want it, but because economic laws are stronger than ideological dogmas.
Jacques Rueff understood this before many others: you can't cheat with money in the long term without paying the price.
The euro is not inevitable.
Its disappearance is a historical certainty.
The only question now is:
who will have the courage to prepare - and who will foot the final bill?