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"Credibility" Gap in Merkozy's Eurozone Strategy

Simon Nixon, The Wall Street Journal | November 8, 2011

Merkel and Sarkozy’s shifting strategy on the Euro crisis is undermining the credibility of the EU and hurting investment. ++ Suddenly introducing foreign exchange risk to the Eurozone has frightened the very market forces needed to rescue debt-ridden Greece and Italy. ++ This has created a vicious circle of political instability which further harms investment. ++ If it is to survive, the Eurozone now has no choice but to force out weak periphery governments and consolidate more power in Brussels.