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  Reg - the banks are not blame free but they were only able to speculate the way they did because Brown not only enabled it by changing the regulatiopns he actively encouraged it when speaking to the City in one of his early Mansion House speeches, I think it was 1998.
  
  What the banks are definitely not responsible for is Brown's spending and borrowing spree or that of the European governments that are creating the Euro collapse and prolonging the economic weakness over the overall Eurozone. Germany may be doing well out of it but it is at a massive cost to the Greeks, Portugese, Spanish etc.
  
  A collapse of the Euro will help European economic recovery in the same way as Britain's ejection from EMU sparked our recovery. There will be short-term problems and some Greek default but they would find it easier to finance their debts if they had their own currency reflecting the weakness of their economy. The same goes for the other weak links in the Euro.

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