EU fumbling leaves euro zone seeking credibility
Marcin Grajewski and Erik Kirschbaum, Reuters, 29.04.2010
Quote
The European Union's inability to take quick, firm decisions has exacerbated Greece's debt crisis and increased the risk of contagion to other euro zone countries such as Portugal.
Four months of talks and summits have only just brought the EU to a point where it can release emergency funds to Athens – a degree of indecision that financial markets have exploited and which now threatens Lisbon and possibly others. [...]
"If you look back at the last weeks or months, you have to say there has been a lack of clear leadership," said Janis Emmanouilidis, a senior analyst at the European Policy Center. "That is exactly what markets want. They are able to exploit those insecurities and uncertainties." [...]
As well as highlighting the EU's cumbersome decision-making, the crisis has exposed the lack of foresight that went into the creation of the euro and the process of economic and monetary union that underpins it, analysts say. [...]
"What the current situation shows is that they didn't have the mechanisms for bad weather conditions," said Emmanouilidis.
The fact that euro zone leaders had not thought of that before, or that they weren't able to agree on crisis mechanisms at an earlier stage, underlines the lack of a clear vision, he said.
"The Greek crisis is a credibility crisis and now the euro crisis is a credibility crisis. Whatever you do, whatever you say, you will be doubted, and that makes it so difficult." [...]
For the entire article see here.
Latest media contributions
Interview zu den EP-Wahlen
Interview, NDR2 – Kurier um 12, 24.05.2019
EU-Wahl 2019: Richtungswahl mit vielen Unbekannten
Quotes, BR (GER), 23.05.2019
Platzhirsche gegen Antikräfte
Quotes, tagesschau.de, 23.05.2019
Orçamento da UE opõe o norte ao sul
Quotes, Deutsche Welle, 23.05.2019
Niederländer und Briten starten Europawahl
Quotes, Deutsche Welle & Focus, 22.05.2019
‘Druk van populisten verenigt pro-Europese krachten’: Europese wijk zet zich schrap voor EU-parlementsverkiezingen
Quotes, De Morgen (BE), 22.05.2019
Big Question for EU Vote: How Well Will the Far-Right Do?
Quotes, The New York Times / The Washington Post, 22.05.2019
FPÖ-Skandal wird Rechte in der EU kaum schwächen
Quotes, Deutsche Welle & Focus, 21.05.2019
El escándalo austriaco y la ultraderecha europea
Quotes, Deutsche Welle, 21.05.2019
Γιατί είναι τόσο σημαντικές οι ευρωεκλογές;
Quotes, in.gr / Politis, 20.05.2019