The Future of the Euro: Why Sentiment Alone Can’t Save the Union

Ron Johnson arrived at JCPenney with pomp and high expectations, built by his own reputation and hedge fund manager Bill Ackman's heavy recruitment.

(Hofman Photos)

BERLIN – Back in May, as the eurozone veered deeper into crisis, Nobel Prize-winning economist Paul Krugman penned one of his gloomiest columns about the single currency, a piece in the New York Times entitled “Apocalypse Fairly Soon”.

BERLIN (Reuters) - Back in May, as the euro zone veered deeper into crisis, Nobel Prize-winning economist Paul Krugman penned one of his gloomiest columns about the single currency, a piece in the New York Times entitled "Apocalypse Fairly Soon".

Praise from German chancellor Angela Merkel is typically hard to come by. However, Merkel is freely distributing praise these days, to the person least-deserving, herself. As the eurozone marches down the "Road to Shared Liability" Germans are largely unaware of the Hidden Risks of the Euro-Zone Bank Oversight Plan risks that Merkel ignored when agreeing to the eurozone oversight plan last week.

By Scott Minerd: In the early 1950s, a U.S. social psychologist named Leon Festinger conducted an experiment that may provide valuable insight into Europe's current troubles.