The North is competitive. The South is 20% overvalued.And I realized that's all you need to know about the eurozone and about why it will fail. Or has already failed, to put it more accurately. There's no other information required. Other than a bit of context, perhaps, to clarify.Before the euro and the eurozone, countries like Greece, Spain, Italy, Portugal, would perform 20% or more lower economically than Germany or Holland would. And that was kind of alright, because periodically, their governments and central banks would revalue (devaluate) their currencies down against;