"Eurogeddon" looms as Dutch Freedom Party pushes euro exit.

"Eurogeddon" looms as Dutch Freedom Party pushes euro exit.(KV).A report into the cost of the euro commissioned by Geert Wilders shows the Netherlands can return to the guilder, the PVV leader said at the presentation on Monday afternoon.
'The results go against everything we are told in the media and by the left-wing elite on a daily basis,' Wilders said. 'The Netherlands can go back to the guilder.' The research states the shift to the euro has hit the Netherlands' prosperity. For example, the Dutch economy has grown by an average 1.25% [yearly] since the euro was introduced, compared with 3% [yearly] in the 20 preceding years.
Yet over the past 10 years, the economies of Sweden and Switzerland, which are not members of the eurozone, have grown 2.25% and 1.75% respectively, the report states.
Leaving the euro now will cost up to €51bn, but that will be more than offset by a €75bn saving on propping up the single currency, Wilders said. He wants a referendum on the issue.
The report was done by Lombard Street Research (LSR). The full report (75 pages) is here (pdf), a 20 page summmary can be viewed here (pdf). Most of what the report says we've rehearsed earlier. But this report is a first in that it takes a look at the actual numbers.

Bottom line, as reported by to Fundweb: Eurozone could cost €2.4 trillion to keep together.

The research suggests that it will cost at least €1.3 trillion for the eurozone to be held together. This optimistic scenario assumes that the debt of Greece and Portugal are written off and healthier economies such as Germany, France, Benelux, Austria and Finland fund the budget deficits of Spain and Italy.
But the group’s pessimistic scenario, which would cost €2.4 trillion, sees Spain and Italy also needing their bond maturities refinancing. This is expected to cost almost four times the amount of bailing out Greece and Portugal. (...)
Dumas concludes: "The difficulties of the eurozone are dynamic and complex but we believe that our report, based on careful statistical analysis, points towards a growing likelihood that the eurozone cannot survive in its current form."Hmmmmm...................."luctor et emergo".Read the full story here. More here: Dutch eurodoom - EURef
The Eurebellion begins - Vox Day
Dutch Freedom Party pushes euro exit as €2.4 trillion rescue bill looms - Ambrose Evans-Pritchard.