New York Times (December 5)
Alistair Darling writes that European leaders need to “address the root causes” behind the ongoing European crisis. “It is not enough for the euro zone nations to bail out each economy as it falls into a crisis—they must address the root causes of the continent’s problems.” The Former British Chancellor of the Exchequer (2007–2010) and current member of British Parliament identifies the root cause as the limited “political and economic union that underpins” the common currency. As a first step, Darling recommends that the European Central Bank “make a firm commitment to buying government bonds from at-risk countries.” Darling provides other suggestions and urges European leaders to act quickly to address what has become “the single largest threat to the fragile global recovery.”
Alistair Darling writes that European leaders need to “address the root causes” behind the ongoing European crisis. “It is not enough for the euro zone nations to bail out each economy as it falls into a crisis—they must address the root causes of the continent’s problems.” The Former British Chancellor of the Exchequer (2007–2010) and current member of British Parliament identifies the root cause as the limited “political and economic union that underpins” the common currency. As a first step, Darling recommends that the European Central Bank “make a firm commitment to buying government bonds from at-risk countries.” Darling provides other suggestions and urges European leaders to act quickly to address what has become “the single largest threat to the fragile global recovery.”
Tags: Alistair Darling, Currency crisis, euro, Euro zone
