ECB can save the eurozone - It has near-unlimited firepower and is the only EU institution willing and able to act
The pandemic is creating an enormous common shock. But it has asymmetric results.
Italy and Spain.
The collapse of the eurozone would be a catastrophe.
Martin Wolf 21 April 2020
Italy and Spain.
The collapse of the eurozone would be a catastrophe.
Martin Wolf 21 April 2020
Let us think the unthinkable: Could the eurozone disintegrate?
The answer is yes.
If /Italy/ fails to rise to the challenge it confronts, a default or even a forced withdrawal from the eurozone is perfectly conceivable.
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