| Publication |
2011.
|
| Summary/Abstract |
The Euro zone was caught unprepared by the financial crisis originating in the USA followed by the recession. Severe flaws in the designs hidden by the "good" years surfaced calling for action. After a good deal of fumbling, the Euro zone moves towards a fiscal union anchored in acceptance of a "German" economic model-low inflation, low deficits, and debts. The Euro will survive with two major changes. The integration will be stronger and the core countries in the Euro zone will exercise stronger leadership raising awkward policy decision for the skeptical members of the EU, but outside the Euro.
|