Will the Euro Survive the Current Crisis?
The European Economic and Monetary Union is about to celebrate its tenth anniversary, having functioned well since its introduction in 1999. But the current economic crisis may provide a more severe test of the euro’s ability to survive than any it has faced so far.
CAMBRIDGE – The European Economic and Monetary Union (EMU) and the euro are about to celebrate their tenth anniversary. The euro was introduced without serious problems and has since functioned well, with the European Central Bank delivering the low inflation that is its sole mandate.