World Turns to Blogger for Euro Advice

Edward Hugh saw the euro's troubles coming

By Rob Quinn,  Newser Staff

Posted Jun 10, 2010 7:41 AM CDT

(Newser) – A British man who's made his living as a part-time English teacher in Spain for decades is suddenly the hottest name in economics, because he got it right. Blogger Edward Hugh correctly predicted the current Eurozone crisis, pinpointing the reason as the difference in demographics between Germany and countries like Greece, where a younger population has borrowed heavily to buy property. He warned that it would eventually prove impossible for the Eurozone countries to coexist under the same currency, the Independent notes.

The IMF, international banks, and even the White House have been seeking Hugh's advice lately, and Paul Krugman tells CNN that "I wish he posted more." The 59-year-old says he's been getting plenty of job offers but he has no plans to give up his life in the countryside outside Barcelona. "I moved here to get way from the office. All these offers I'm getting, really, they can go and jump in the lake as far as I'm concerned." He did agree to attend a conference of Spanish businessmen and economists discussing the crisis last month, although he had to borrow money from friends to buy a suit.

A poster burns in front of Bank of Greece headquarters as the graffiti reads ''Burn banks'' during a march in central Athens last month.
A poster burns in front of Bank of Greece headquarters as the graffiti reads ''Burn banks'' during a march in central Athens last month.   (AP Photo/Thanassis Stavrakis)
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Not only are Europe's economies in disorder, the high value of the dollar means the US recovery is steadily grinding to a halt. So we could call the euro break-up story 'how Greece screwed the USA.' - Edward Hugh

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