Europe Re-Divided?
With the entire burden of adjustment being shifted to the eurozone's debtor countries, the next step in European integration must be clearly acknowledged alongside implementation of the EU’s crisis-resolution mechanism. Otherwise, deficit countries will have no reason to hope that they can escape their predicament.
https://prosyn.org/V0SoJib
NEW YORK – The so-called euro crisis is generally seen exclusively as a currency crisis, but it is also a sovereign-debt crisis – and even more a banking crisis. The situation’s complexity has bred confusion, and that confusion has political consequences.