Bruegel: A growing crisis puts the euro in danger
07 December 2010
Jean Pisani-Ferry writes that there are several reasons why markets have reacted poorly to Europe’s recent crisis management efforts. Europe’s response to date has been more innovative and effective than many of its critics realise.
He also says that Europe now must accept that what was once a crisis in the eurozone, is now a crisis of the euro itself. The European Union cannot afford doubts about the viability of the euro to spread and strengthen. A revitalisation programme should involve a strengthening of integration within the single market, particularly in the market for services, to help Europe’s economies converge. A bolder, more comprehensive response is urgently needed.
© Bruegel
