One Currency, Two Europes

Dallago presents evidence that a fault line is deepening within the Eurozone between vulnerable and resilient countries, and that it is bound to worsen given the present institutional architecture and the priority assigned to financial discipline, even to the disruption of real economies. He argues that the Eurozone concentration on financial discipline is a one-sided approach that by itself cannot resolve European troubles, and is actually one of the main causes of those problems. On the other hand, financial discipline cannot be discarded or infringed upon in an institutionally incomplete monetary union, he admits, a union in which trust among member countries has been shaken, to say the least. Annotation ©2016 Ringgold, Inc., Portland, OR (protoview.com)