Europe’s Trojan Horse
The Greek crisis shows that the EU is still only halfway toward creating a viable monetary union. Unless it creates a proper emergency financing mechanism – and pushes for political integration required to make such a mechanism feasible – the next crisis will make this one look like a walk in the park.
https://prosyn.org/DbwjhvX
BERKELEY – Europe is now moving ineluctably toward a bailout for Greece. There will be emergency financing. There will be conditions. There will be the obligatory promises by the government in Athens.