New York Times (July 26)
“While the eurozone may have temporarily avoided a Greek exit, it is hard to see how a deal that requires more spending cuts, higher taxes and only vague promises of debt relief can restore the crippled economy enough to keep Greece in the currency union.”
Tags: Currency union, Debt relief, Economy, eurozone, Exit, Greece, Spending cuts, Taxes
Bloomberg (June 29)
“Three years after Mario Draghi pledged to do whatever it took to save the euro, the mounting crisis in Greece is calling into question the integrity of the entire currency union.” Although Greece is minor in terms of economic output, “its exit would hurl the bloc into unknown territory by setting a precedent for other nations to reconsider their membership.”
Tags: Crisis, Currency union, euro, Exit, Greece, Mario Draghi, Membership
Financial Times (May 22)
“The German elite were the ones who understood what creating the euro implied. They realised that a currency union could not work without a political union. But the French elite wanted, instead, to end their humiliating dependence on the monetary policy set by Germany’s Bundesbank. Now, two decades later, Germany’s partners, including France, have learnt a painful lesson. Far from being liberated from German control, they are now far more firmly under it. In a big crisis, creditors rule.”
Tags: Bundesbank, Creditors, Currency union, France, Germany, Political union
