Splitting up may be hard to do, but it can be better than sticking to a bad marriage. The euro periphery debt crisis threatens to engulf the core in huge bank capital shortfalls and fiscal liabilities, trapping both in protracted stagnation. This reflects possibly intractable design flaws in the single currency. So we propose an amicable divorce settlement
http://link.ft.com/r/QM42II/TU4MVN/8AYTHO/QN8D34/NJA3SA/T3/h?a1=2012&a2=4&a3=2 |
