The Economic Consequences of Greece
The adoption of a common currency has undermined the European Union's founding vision, threatening the stability of the continent. The turmoil in Greece is an opportunity to evaluate the decisions that led to the crisis and chart a course for dissolution of the eurozone.
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TILTON – The first sentence of the 1957 Treaty of Rome – the founding document of what would eventually become the European Union – calls for “an ever-closer union among the peoples of Europe." Recently, however, that ideal has come under threat, undermined by its own political elite, which adopted a common currency while entirely neglecting the underlying fault lines.