Jacques Delors: Euro was flawed from beginning

BBC

One of the architects of the euro, Jacques Delors, says it was flawed from the start, as his plans for economic co-ordination were never followed.

He told Britain's Daily Telegraph that the lack of central powers to co-ordinate economic policies allowed some members to run up unsustainable debt.
As head of the European Commission from 1985 to 1995, he played a key role in the process that launched the euro.
The comments come amid growing doubts over the viability of the eurozone.
In his interview with the Daily Telegraph, Mr Delors says the debt crisis stems not from the idea of a single currency itself, but from "a fault in execution" by political leaders who oversaw its launch.
He says they turned a blind eye to the fundamental weaknesses and imbalances of member states' economies.