Wall Street Journal (January 26)
While the Greeks are likely to remain in the eurozone, “the Syriza victory is nonetheless a rebuke to European leaders. Greeks believe, not unreasonably, that the conditions imposed by the troika have been disastrous.” Rather than “promoting pro-growth reforms,” the European Commission, European Central Bank and International Monetary Fund imposed measures focused on “draconian fiscal tightening.” The result was predictable: “falling wages and pensions and rising taxes, with no growth in return for the pain.”
Tags: Draconian, ECB, European Commission, European leaders, eurozone, Fiscal tightening, Greek, Growth, IMF, Pensions, Reforms, Syriza, Taxes, Victory, Wages
New York Times (September 7)
“In the long euro crisis, there is almost always a sobering morning-after whenever European leaders appear to have made a major breakthrough. And so it went again Friday.” There is again “further uncertainty about the survival of the euro zone.”
“In the long euro crisis, there is almost always a sobering morning-after whenever European leaders appear to have made a major breakthrough. And so it went again Friday.” There is again “further uncertainty about the survival of the euro zone.”
Economist (December 2)
The euro is lurching from crisis to crisis. The Economist hopes the currency will survive. European leaders should be doing more. “Breaking up the euro is not unthinkable, just very costly. Because they refuse to face up to the possibility that it might happen, Europe’s leaders are failing to take the measures necessary to avert it.”
Tags: Currency crisis, euro, European leaders
