Financial Times editorial: Europe faces not a mere liquidity problem in a small, sun-kissed Mediterranean state, but a systemic crisis of its monetary union
It will help if Angela Merkel and Jean-Claude Trichet end their increasingly pointless squabble over private sector involvement in a Greek debt relief package.
But it will not transform Greece’s prospects for escaping from its debt trap, and it will not touch the heart of the matter – that Europe faces not a mere liquidity problem in a small, sun-kissed Mediterranean state, but a systemic crisis of its monetary union.
Financial Times editorial 18 July 2011
But it will not transform Greece’s prospects for escaping from its debt trap, and it will not touch the heart of the matter – that Europe faces not a mere liquidity problem in a small, sun-kissed Mediterranean state, but a systemic crisis of its monetary union.
Financial Times editorial 18 July 2011
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