The Euro is irreversible

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Series Details No.380, February 2016
Publication Date 01/02/2016
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There, with these few words which are all at the same time - political, psychological, financial and economic - (and in that order), everything has been said! At last, there is an explanation to the problems and difficulties encountered at present in the management of the euro zone, in the strategic wager that led to its birth. No political leader of note had dared challenge this until 11th July 2015, when the "solution", a temporary (five year) exit from the euro zone by Greece, prepared by Wolfgang Schäuble, the German Finance Minister, was leaked to the press. Then there was a total change in situation and the Greek issue was "dealt with" as a matter of urgency: Greece accepted the "effort to be made", the other countries would "help".

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Related Links
ESO: Background Information: The euro trilemma, or: how the Eurozone fell into a neofunctionalist legitimacy trap

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