The eurozone is facing a bleak economic outlook, with growth remaining stagnant and the threat of deflation looming large. Its prospects will not improve unless and until it becomes the “optimal currency area” that its creators believed it to be.
TOKYO – The eurozone is facing a bleak economic outlook, with growth remaining stagnant and the threat of deflation looming large. The economist Martin Feldstein, who was skeptical of the initiative from the start, now calls it a “failure.” Is Feldstein right, or could the eurozone become the “optimal currency area” that its creators believed it to be?
TOKYO – The eurozone is facing a bleak economic outlook, with growth remaining stagnant and the threat of deflation looming large. The economist Martin Feldstein, who was skeptical of the initiative from the start, now calls it a “failure.” Is Feldstein right, or could the eurozone become the “optimal currency area” that its creators believed it to be?