The Eurozone – because it remains an incomplete construct – has reached a critical point where its very existence is at stake. The Greek crisis and its never-ending drama, with the July 5 referendum, the “Grexit” strategy of some member states, the July 13 in extremis agreement and the vote in favour of a third aid plan – already incomplete, precarious and dissatisfying, causing the implosion of the outgoing Greek parliamentary majority – highlight the dramatic incapacity of the Eurozone, in its current governance architecture, to deal with the destructive forces unleashed by the financial crisis.
Σχετικές Αναρτήσεις
- Baldwin, Richard, Giavazzi, Francesco, (2015), “The Eurozone Crisis: A Consensus View of the Causes and a Few Possible Solutions”, CEPR Press, 7 Σεπτεμβρίου
- Rieth, Malte, Fratzscher, Marcel, (2015), “Bank bailouts, monetary policy, and credit default risks in the Eurozone”, Voxeu, 6 Σεπτεμβρίου