Thinking the unthinkable on Europe's debt crisis

Luke Baker, Reuters/MSNBC, 12.05.2011

Quote

Link to original Reuters article


There is a solution to Europe's debt crisis. It's called proper fiscal and political union. The only problem is Germany, France, Austria, Finland, the Netherlands and quite a few others would never accept it.

For well over a year, Europe's leaders have been coming up with bold, multi-billion-euro measures to try to put a stop to the debt rot eating away at Greece, Ireland and Portugal, and which could soon affect other member states such as Spain.

The net result, especially when looked at through the eyes of the financial markets, is no improvement. Greece and the others are no closer to resolving their problems, and the likelihood of a debt default or restructuring has only risen. [...]

"There's no one silver bullet. There's no one optimal solution," said Janis Emmanouilidis, a senior policy analyst at the European Policy Center who studies the crisis.

"Policymakers are having to decide between multiple, unpleasant, sub-optimal solutions." [...]

For the entire article see here.

The article was also published on the website of MSNBC.com

Latest media contributions

EPC Friday Update – MFF & Recovery Plan / rule of law and populism
Online Briefing, YouTube, 10.07.2020

EPC Friday Update – state of affairs & prospects for the transatlantic relationship
Online Briefing, YouTube, 03.07.2020

Deutschlands Corona-Präsidentschaft
Quotes, Deutsche Welle, 01.07.2020

Deutschland übernimmt die EU- Ratspräsidentschaft
Interview, SWR2 (German radio), 01.07.2020

"Erwartungen an Deutschland besonders hoch"
Interview, AufRuhr, 30.06.2020

La présidence de l'Union européenne met l'Allemagne sous pression
Quotes, La Libre Belgique, 30.06.2020

UE: Merkel face aux défis de la présidence du Conseil
Quotes, Deutsche Welle (FR), 29.06.2020

EPC Special Friday Update – state of affairs & prospects for the COVID-19 crisis
Online Briefing, YouTube, 26.06.2020

Ohne Scheu vor dem Führungsanspruch
Quotes, Wiener Zeitung, 19.06.2020

EPC Friday Update – MFF/Recovery Instrument – Brexit – Schengen
Online Briefing, YouTube, 19.06.2020


Media