Publication

There is going to be a brand new euro, at least from 2010 onwards, and people are talking about the Grand Design of a new European Economic Governance, the author argues. But after the collapse of the Portugal one is led to ask whether the eurozone can actually make it to safety. And what happens when it gets there? At any rate, the author believes, the danger of new crises is greater than it has ever been. The fact of the matter is that the euro is in an insolvency trap.