For the past 18 months, European policymakers have been trying to deal with a crisis that represents the biggest challenge to the European integration project since its creation after World War II. The very symbol of it — the euro — is under threat. The idea of the euro’s demise — unthinkable only a few months ago — has since been openly considered by many. It would carry traumatic and long-lasting consequences. The crisis has already had a profound political impact, sweeping aside leaders in no fewer than five member countries of the EU, two of which — Greece and Italy — now have unelected, “technocratic” national emergency governments. If after Greece, Portugal, and Ireland, Italy were to fall into a debt spiral, it might be the domino piece that could bring down the entire European Monetary Union.
Solving the Debt Crisis May Be Europe’s Biggest Step Forward
For the past 18 months, European policymakers have been trying to deal with a crisis that represents the biggest challenge to the European integration project since its creation after World War II. The very symbol of it — the euro — is under threat. The idea of the euro’s demise — unthinkable only a few […]
December 10, 2011
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Learn how to overcome barriers when working globally.