The Structure of Institutional Reforms
Despite much talk in Europe these days, we are not dealing with a crisis of the euro. We are dealing, instead, with a sovereign-debt crisis and the consequences of inadequate economic reform in the eurozone.
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FRANKFURT – Despite abundant talk in Europe nowadays, there is no crisis of the euro. Some countries, instead, are dealing with a sovereign-debt crisis and the consequences of inadequate economic reform. The challenges are characteristic not only for the euro area. Most advanced economies around the globe are facing similar problems.