The former Prime Minister of Ireland discusses the possibility of the UK leaving the EU, and the questions it raises about the political structure of the union. This is the final part. Click here to read part one.
The former Prime Minister of Ireland, John Bruton, disccusses the political and economic stresses that might lead to the break-up of the European Union, and its consequences for member states. This is the first of two parts.
Historical context suggests a Greek exit from the Euro would restore competitiveness faster and with less suffering than the current Troika plan of austerity and internal devaluation.
Note: This article's co-author has asked to publish anonymously, and Fair Observer respects the author's right to privacy.
As Europe continues to seek a solution to its ongoing financial crisis, it could benefit from understanding Asia’s definitive 1997/98 economic crisis, in particular the successful initiatives by Malaysia to counter the crisis.
"In Demand: Lessons For Europe From the Asian Financial Crisis"
Though two years into the European Financial Crisis political progress has been made to rebuild the economies of European Union countries, economic instability remains prevalent across the continent, particularly in Greece and Spain.
Harvard's Jeffrey Frankel notes that despite all of Europe's problems, a Eurobond would be attractive to investors if it is backed up with solid economic and political fundamentals.
Any solution to the euro crisis must meet two objectives. One is short run and the other is long run. Unfortunately they tend to conflict.
As observers focus on the troubled economies of Spain and Greece, it’s important not to lose sight of Germany.
Background
Germany’s vision of tough austerity and greater fiscal integration prevailed for two years after Greece’s debt crisis erupted in early 2010. Its record of sound fiscal management, moderate growth and low unemployment was seen as a model for Europe.
