Photo credit: Gero Breloer/AP Images

In the New York Review of Books this weekend, international financier George Soros gives traction to what should be a well-established fact.









Money quote:

The euro was an incomplete currency and its architects knew it. The Maastricht Treaty established a monetary union without a political union. The euro boasted a common central bank to provide liquidity, but it lacked a common treasury that would be able to deal with solvency risk in times of crisis.