RSS Feed

Calendar

March 2024
M T W T F S S
« Feb    
 123
45678910
11121314151617
18192021222324
25262728293031

Search

Tag Cloud

Archives

Financial Times (May 24)

2010/ 05/ 26 by jd in Global News

If Europe’s leaders fail, the euro will fail. But they mustn’t and the euro shouldn’t. During boom times, leaders could break the rules. Early on, France and Germany broke the public debt limits (less than 60% of GDP) of the Stability and Growth Pact. Today’s leaders need to establish tough rules and hold their countries accountable. Europe also needs productivity gains to grow faster. This means difficult structural reforms can no longer be put off.

If Europe’s leaders fail, the euro will fail. But they mustn’t and the euro shouldn’t. During boom times, leaders could break the rules. Early on, France and Germany broke the public debt limits (less than 60% of GDP) of the Stability and Growth Pact. Today’s leaders need to establish tough rules and hold their countries accountable. Europe also needs productivity gains to grow faster. This means difficult structural reforms can no longer be put off.

 

[archive]