As Euro Nears 10, Cracks Emerge in Fiscal Union - by Mark Landler
The euro turns 10 next January, a milestone that will be marked with celebratory speeches, inch-thick scholarly papers and a commemorative 2-euro coin, designed by a Greek sculptor. It was chosen from five candidates in an online poll of European residents.Today, though, “the old temptation of the governments to find a culprit for their problems has returned,” he said. “It is a wider problem than one or two political leaders.” In some sense, the political honeymoon for the euro ended in May 2005, when voters in France and the Netherlands rejected the proposed constitution for the European Union. While that document had little direct bearing on the currency, it symbolized Europe’s steady march from economic to political integration, a process that, for now at least, has stalled.
No comments:
Post a Comment