décryptage
 

The Debt Crisis in the Euro Area: Interest and Passions

We could pretend to be unaware that the crisis threatened the European Union itself as long as only a bank, an area of industry, or a neighboring country were affected. However, when it hit a country like Greece, a member of the euro group, it became self-evident that while Europe may not be to blame, it could well become the great global crisis’ main victim. […] Thus Europe is once again facing both an opportunity and a risk at the same time. The Union today needs to complete its project, and thus it has an opportunity to do so.



|   21/05/2010             |   Tommaso Padoa-Schioppa             |   Economics and finance
décryptage

We could pretend to be unaware that the crisis threatened the European Union itself as long as only a bank, an area of industry, or a neighboring country were affected. However, when it hit a country like Greece, a member of the euro group, it became self-evident that while Europe may not be to blame, it could well become the great global crisis’ main victim. […] Thus Europe is once again facing both an opportunity and a risk at the same time. The Union today needs to complete its project, and thus it has an opportunity to do so.