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Can someone give me some web links that explain what started the European debt crisis?
I need websites other then Wikipedia please. Thank you.
1 Answer
- 9 years ago
Timeline: The unfolding eurozone crisis; this page also has links on
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Eurozone crisis explained
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Experts debate eurozone options
Euro crisis origins Watch
Charting Europe's economic woes
Stiglitz: Austerity not the way
Domino effect
In my opinion the architects of the Euro had another agenda from the start, namely total fiscal intergration. There was no way a common currency could ever work unless participating countries had a single fiscal policy.
The concept of a common currency is fine, but as soon as you begin looking at the wildly varying income streams of the participating nations it makes no sense to integrate at the level of the state. It can NEVER work. Federal oversight of government performance and Integration at the level of the citizen, with free movement and equal access to life opportunities is the only way to make this work.
The Eurozone can still resolve the problem. I believe central control is a good idea so that the likes of Greece and any other do not spend money they dont have.