Preserving the Eurozone
“Two years into an economic recovery from one of the worst recessions of the postwar era, the European Union continues to search for solutions to the debt crisis that plagues some of its members. Following the announcement in October 2011 that Greece would be allowed to engage in an “orderly” default on its government debts, EU leaders strove to prevent such an event from causing widespread harm to economies across the continent. The crisis has sparked protests in Greece, and some against austerity measures have turned violent. In Germany and other richer EU member states, popular sentiment remains set against enlarging taxpayer-funded bailouts, forcing national leaders to find creative ways to stabilize their economies...”
Excerpt from per Concordiam Staff, “Preserving the Eurozone,” per Concordiam: Journal of European Security Defense Issues 2, No. 4, 2011: 46-49.
This article reflects the views of the author and are not necessarily the official policy of the United States, Germany, or any other governments.