Former Barclays Chief Exec Wants Euro Split Into Two

When first reading Martin Taylor's article in the FT on the Euro's troubles, you might be forgiven for imagining he was writing a spoof. He writes that there should be a Northern Euro - to be known as the Neuro - and Southern Euro - called the Pseudo or Sudo.

Clearly taking inspiration from the psychiatric profession, and no doubt seeing the need for a way of alleviating insanity within the eurozone before the crisis spins out of control, he explains -

The least damaging solution now might be a north/south split of the currency. Imagine a “neuro” and a “sudo” (pseudo in Greece). For every €100 you would receive 50 neuros and 50 sudos. Countries would from then on opt to use one or the other. Existing obligations – including the national debts of all current eurozone members – would thus have a hard and soft component. Readers can amuse themselves by guessing which currencies some of the more ambiguous countries might choose.

By the end of his nicely-written and amusing piece, you realise that this cure for Euro-schizophrenia is intended to be taken seriously. Full article here. Recommended.