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The Euro, Like The Gold Standard, Is Doomed To Fail

Pettifor, Ann, (2015), “The Euro, Like The Gold Standard, Is Doomed To Fail”, Social Europe Journal, 31 July

On 20th July, 2015 Jacques Delors reached the grand old age of ninety years. President Hollande saluted the elder statesman and told Journal du Dimanche, that “in the past week the European spirit (had) prevailed” in addressing the Greek crisis. This referred to the long, brutal and historic overnight negotiations of 12th July, between Eurozone leaders and Greece – and to Greece’s subsequent capitulation to micro and macro economic conditions set by creditors. For many, no doubt including Delors, “the European spirit” seemed to have evaporated completely.

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