Germany’s Net Foreign Assets Exceed €1 Trillion; 10 Compete Failures of the Eurozone

"The eurozone was supposed to equalize trade and interest rates. The Maastricht Treaty supposedly ensures the free movement of goods, capital, people and services. Tensions were supposed to drop. Instead, the eurozone has been a complete failure.

Eurozone Complete Failure

1. With Cyprus, there is no longer a free flow of capital. There are now Cypriot euros and other euros. Capital controls are in place.
2. There is one interest rate policy set by the ECB but it has been set on the basis of what is beneficial to Germany.
3. There are 17 different sovereign bond yield structures. In theory sovereign bonds of Greece, Spain, Italy, Portugal, Germany, (and all the other eurozone countries as well) should all trade at the same rate. In practice here are some 10-year sovereign bond rates: Spain:4.75% Portugal:6.42% Greece:11.71% Italy 4.34% Germany 1.24%.
4. Tensions were supposed to drop. Yet in Greece, a neo-Nazi party is now the third largest. Separatist movements are on the rise in Spain.
5. Greece and Italy have had technocrat governments forced on them by Brussels.
6. European banks are capital impaired and massively leveraged. In Southern Europe, banks are leveraged to their own sovereign bonds.
7. Manufacturing imbalances abound.
8. There is massive unemployment in peripheral Eurozone. Youth unemployment exceeds 55% in Spain and Greece, and 38% in Italy.
9. Property bubbles vary in strength and intensity, country to country. 
10. Trade imbalances are totally out of control..."

at http://globaleconomicanalysis.blogspot.com/2013/04/germanys-net-foreign-assets-exceed-1.html#XEV4wOc64Hl1IzdX.99