The fiscal future of the eurozone

Editorial. Even while EU leaders at the European Council in Brussels, 16-17 December 2010 affirmed their commitment to do 'whatever is required' to combat the eurozone crisis, they failed to address the question that has bedevilled the euro since before its birth: is monetary union without fiscal union – the current arrangement – either feasible or desirable in the long run? Their reticence guarantees that the market’s testing of their policy intentions will continue unabated.

ESO: EU leaders back new bail-out system http://www.europeansources.info/record/eu-leaders-back-new-bail-out-system/

ESO: Background information: How a mini fiscal union could end instability http://www.europeansources.info/record/how-a-mini-fiscal-union-could-end-instability/

ESO: Background information: Merkel and Sarkozy call for deeper union http://www.europeansources.info/record/merkel-and-sarkozy-call-for-deeper-union/

---