Only two ways the crisis can end
In an otherwise unclearly written article on the Greek debt crisis, Jeremy Warner in The Telegraph boils down the issue to this:
There are only two ways this can end. Either the surplus core has to accept that it must continue to bail out the periphery on a virtually permanent basis—a transfer union—or the single currency must lose its outer fringe.
Posted by Lawrence Auster at June 17, 2011 10:32 AM | Send