A marker

Reading this update on Greece’s fascist Golden Dawn party.

Be clear that a group like this, in power, is not consistent with being in the euro-area: they would not want to be in, and they would not be welcomed to stay in the EU. 

But let’s make it clear right now: membership in the euro-area should not be conflated with liberalism.

Quite the opposite: membership in the euro-area, for those economies not suited to it, will be associated with illiberalism. Yes, that will coincide with departure from the euro-area. But this will be a mere correlation. Causation runs from euro-membership to illiberalism.
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