Spain Not Greece Is the Real Test for the European Union
The decisive test of the euro area’s plans for economic recovery was never Greece but Spain, and the European Union shows every sign of failing it. The Spanish government’s new austerity plan hasn’t won investors’ confidence, and this creates a threat not just to Spain but to the whole EU. Europe’s governments need to change […]
Greece Has Too Many Farmers
Dalton, Matthew. Southern Europe has a productivity problem. Workers in Greece, Portugal, Spain and Italy all produce below the euro-zone average per hour worked; the difference is particularly stark for Greece and Portugal, two of the countries getting loans from the euro zone and the International Monetary Fund. Πηγή: The Wall Street Journal πλήρες κείμενο
A Centerless Euro Cannot Hold
Rogoff, Kenneth. With youth unemployment touching 50% in eurozone countries such as Spain and Greece, is a generation being sacrificed for the sake of a single currency that encompasses too diverse a group of countries to be sustainable? If so, does enlarging the euro’s membership really serve Europe’s apparent goal of maximizing economic integration without […]