No happy new year for the eurozone

Commentary feature. The bond market crisis is affecting the core eurozone and is spreading fast. In the author's view the crisis is insoluble without a Europeanisation of the banking sector, common labour and product market rules that prevent inflation stickiness in southern Europe, and a minimal fiscal union with a single European bond.

ESO: Background information: Expect some answers from the eurozone http://www.europeansources.info/record/expect-some-answers-from-the-eurozone/

---