Wednesday 20 April 2011

Euro Crisis: Economic Turmoil, Political Backlash

http://www.theglobalist.com/storyid.aspx?StoryId=9091

Today half of all Finns oppose euro-area rescues. After their recovery from the devastating early 1990s and the global financial crisis, they have little sympathy for the fiscal softness of the Southern European “Club Med” countries.


Unfortunately, the problems are systemic. Neither muddling through the economic turmoil nor nationalist political shifts will resolve the problems. The euro crisis is not just about liquidity — it is primarily about solvency. The advanced economies can live beyond their means some of the time, but not all of the time.

No comments:

Post a Comment