Eurozone break-up edges even closer

Commentary feature. The crisis concerning Cyprus in the spring of 2013 is a perfect illustration of the way the eurozone struggles with collective action.

The author argues that it is impossible for 'northern' eurozone countries such as Germany, Finland and the Netherlands to be in a monetary union with 'southern' Cyprus, Greece and Portugal. Either the two sides agree to adjust more symmetrically, politically and economically, or the eurozone experiment should end.

ESO: Background information: Find all further information in ESO on the Cyprus economic and banking crisis http://www.europeansources.info/advSearchLink?keyword=Cyprus%20economic%20bailout%20&searchOption=all

ESO: Background information: Find other Commentary Features in ESO on Challenges facing EMU http://www.europeansources.info/advSearchLink?keyword=commentary%20feature%20emu%20challenges%20&searchOption=all

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