What Really Caused the Eurozone Crisis? - Article

[joea]

Interesting article-was it local or systemic?

http://streetlightblog.blogspot.com/...isis-part.html

I personally agree with the conclusion:

The eurozone debt crisis is big enough that there's plenty of blame to go around, and some of it certainly should go to the crisis countries themselves. But it must also be recognized that as soon as those countries adopted the euro, powerful forces were set in motion that made a financial crisis likely, and very possibly unavoidable, no matter what the governments of the peripheral euro countries did. Irresponsible behavior by the periphery countries did not set the stage for the eurozone crisis; the common currency itself did.

Here is part 2.

http://streetlightblog.blogspot.com/...-2-policy.html

Agree the solution may be this one:

3. Restrict the eurozone to the core.