Restoring European Growth
Since the eurozone debt crisis crisis erupted in Greece almost two years ago, EU leaders have failed to propose a solution that balances austerity and economic growth, without which confidence in the euro cannot be restored. Perhaps European policymakers should look to Argentina for the answer.
https://prosyn.org/ey3oVaD
NEW YORK – Europe’s sovereign-debt crisis has rumbled on for so long that some people are beginning to take it for granted that eurozone leaders can continue to stumble from one non-solution to the next without risk of cataclysm. But if any troubled southern European economy fails to roll over its debt in the coming months, the resulting contagion will spread quickly from the eurozone throughout the global financial system, with consequences far more grave than what followed Lehman Brothers’ collapse in September 2008.