Zero hour for the euro

Commentary feature. At the autumn meetings of the International Monetary Fund and the World Bank in September 2011, eurozone policymakers came under an unprecedented degree of pressure to act. Will they?

Rescuing the eurozone requires an action plan of a scale hard to fathom. In the coming weeks, Europe’s political leaders would have to decide what to do about Greece, recapitalise the banking sector, fix the EFSF, all in a way that tied in with a clearly laid-out strategy for the future of the eurozone.

Based on previous performance, it is hard to imagine that the EU will rise to the occasion. If it does, it is even harder to believe that eurozone governments can get the support back home.

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

ESO: Background information: Pressure mounts on Europe to boost rescue fund / Debt talks fail to agree solution http://www.europeansources.info/record/pressure-mounts-on-europe-to-boost-rescue-fund-debt-talks-fail-to-agree-solution/

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