World Awards American who Predicted European Economic Collapse. Huh?

USA Today – A winner of the Nobel prize in economics says that a decade ago he feared the euro would face problems because there wasn't enough fiscal coordination between countries to support it.

• 
  By STAN HONDA, AFP/Getty Images
  Christopher A. Sims of Princeton University and Thomas J. Sargent, left, of New York University, who share the 2011 Nobel Prize in economics speaking to the media on Oct. 10, 2011, at Princeton.

Enlarge

By STAN HONDA, AFP/Getty Images

Christopher A. Sims of Princeton University and Thomas J. Sargent, left, of New York University, who share the 2011 Nobel Prize in economics speaking to the media on Oct. 10, 2011, at Princeton.

Christopher Sims, who shares this year's $1.5 million award in economics with fellow American Thomas Sargent, said Wednesday that the European financial crisis was partly caused because the common European currency, now shared by 17 EU members, didn't have "clear fiscal backing" when it was created. 

[click link at beginning for full story]
Basically, this guy from Princeton said the Euro wouldn't work and wrote a thesis that predicted this crisis a decade ago. More people should have read it. Ironic that he is getting the Nobel Prize for economics as the European economy crumbles. Another victory for vacationing Americans and their dollars.