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Euroland or Bust

Picture this: On January 1, the dollar is extinct and all prices are in zlotys. Sounds scary, right? Yet 11 European nations and 290 million souls are about to perform just that kind of experiment.

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As I write, I am staring at the Money Bunny. It is a brown and hairless old thing, rubbed smooth over the years, and it stares back at me with one plastic eye slightly popped. The bunny is fairly bursting. When I return from foreign trips, I empty my pockets into it, through the slot on its back. Before leaving again, however, I never remember to extract the appropriate currency. The bunny thus has a cash-flow problem.

I decide to pull the little plastic plug from its bottom. A thick bolus of British sterling stanches the flow at first, solid and heavy, each coin bearing the crowned profile of Elizabeth--as a young woman on the oldest ones, later as a handsome matron, but always and ever the Queen. German marks come next, and German eagles, strangely atavistic in a nation that today is so pacifist: on the 5-mark piece, the ...

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