July 2012
The Eurozone's Bad Bets: A Beginner's Guide to the Eurozone Crisis
The Eurozone experiment has rested on a series of big economic and political bets. It’s now clear that almost none of them have paid off. European Monetary Union is no longer sustainable in its current incarnation. The author argues that the Eurozone’s long-term future therefore depends on whether European leaders are able to deliver the institutions needed to make the currency union work, and on whether they can do so quickly enough to avoid an outright collapse.
© 2012 Lowy Institute for International Policy
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Author:
Mark P Thirlwell
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2012
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2
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