Dogmatists raise the costs of eurozone crisis

Commentary feature. The EU has only a single policy tool at its disposal until 2013: continued bail-out linked to continued austerity. He concludes his feature 'I would still bet that the eurozone will muddle through this – defaulting eventually into a fiscal union with a common eurozone bond. It is either that, or a very messy break-up'.

ESO: Background information: The eurozone’s journey to defaults http://www.europeansources.info/record/the-eurozones-journey-to-defaults/

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