A little something for the euro bears (and the zombie lovers)

A columnist at MarketWatch calls the euro a zombie currency and says Spain and Italy will rebound strongly when they abandon it:

When a currency stops working the damage done to the economy is immediate. Trade stops flowing. Investment gets postponed. Capital flees. Very quickly, unemployment starts to rise, and output declines. That is precisely what is happening in the euro zone right now.

I’m bearish on the future of the euro as well but I see a case for a short-term rebound over the next two weeks.