Does the EU still have a core?

"There is no other country in Europe that will be as deeply affected by the ‘No’ as Germany," said Ulrike Guérot, senior transatlantic fellow at the German Marshall Fund in Berlin. "The French are no longer in a position to lead as part of a tandem… but Germany, because of its history, cannot claim leadership in Europe on its own."

Here is further discussion.  I’ve long thought that a "no" vote would be a very serious event.  Read Timur Kuran on preference falsification, not to mention Malcolm Gladwell on tipping points.

My next question: What does equilibrium look like when you have two major currencies, each of which must fall in value vis-a-vis the other?


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