Eurozone: One Size Does Not Fit All
Paul Krugman, The New York Times | February 15, 2010
Spanish and Greek deficits are a godsend for advocators of fiscal discipline. ++ This is just one aspect of the problem. ++ European elites are being blamed for ignoring signs that proved Europe was not ready for one currency. ++ The inflexibility of the Euro is preventing the Spanish economy for instance, from recovering. ++ The breakup of the Euro is neither likely nor feasible. ++ The only solution is to push toward greater political union and foster solidarity between member states like in the US.
