Taming the European Monster
Armin Mahler, Der Spiegel | May 25, 2010
“There is only one way out of the euro crisis: The euro-zone countries must regain the confidence of the financial markets. But that is only possible if they clean up their budgets.” ++ Unregulated financial markets pose the single greatest threat to the economy. ++ By failing to create a strong foundation for a monetary union, the euro-zone governments themselves are responsible for this second wave of the economic crisis. ++ Only when government deficits are drastically reduced will the financial markets regain stability.
