by ATHENS – Europe’s establishment is luxuriating in two recent announcements that would have been momentous even if they were only partly accurate: The end of Greece’s debt crisis, and a Franco-German accord to redesign the eurozone. Unfortunately, both reports offer fresh proof of the European Union establishment’s remarkable talent for never missing an opportunity to miss an opportunity. The two announcements did not come in the same week by accident. The Greek debt implosion, back in 2010, was the ugly symptom of the eurozone’s design flaws, which is why it triggered a domino effect across the continent. Greece’s continuing insolvency reflects the deep disagreements within the Franco-German axis concerning
Topics:
Yanis Varoufakis considers the following as important: DiEM25, DiEM25 Ελλάδας, English, European Crisis, Greece, Greek crisis, MeRA25, Op-ed, Politics and Economics, Project Syndicate
This could be interesting, too:
Merijn T. Knibbe writes In Greece, gross fixed investment still is at a pre-industrial level.
Robert Skidelsky writes The Roots of Europe’s Immigration Problem – Project Syndicate
Robert Skidelsky writes Britain’s Illusory Fiscal Black Hole
Robert Skidelsky writes The Enduring Appeal of Live Performance
ATHENS – Europe’s establishment is luxuriating in two recent announcements that would have been momentous even if they were only partly accurate: The end of Greece’s debt crisis, and a Franco-German accord to redesign the eurozone. Unfortunately, both reports offer fresh proof of the European Union establishment’s remarkable talent for never missing an opportunity to miss an opportunity.
The two announcements did not come in the same week by accident. The Greek debt implosion, back in 2010, was the ugly symptom of the eurozone’s design flaws, which is why it triggered a domino effect across the continent. Greece’s continuing insolvency reflects the deep disagreements within the Franco-German axis concerning eurozone redesign. While three French presidents and the same German chancellor were failing to agree on the institutional changes that would render the eurozone sustainable, Greece was asked to bleed quietly.
For the rest of the article click here….