"If the eurozone fails to support Greece or makes the terms of any bail-out politically impossible for the country's authorities to meet, Greece could default on its sovereign debt. The eurozone would then face a big problem. The financial markets would quickly turn their attention to other euro bloc economies with unsustainable fiscal positions and poor growth prospects. Italy, Spain and Portugal would find themselves paying dramatically higher borrowing costs, raising the likelihood of further fiscal crises. Such a scenario would almost certainly deter the European Union's remaining central and eastern European member states joining the eurozone any time soon. And the political fallout would be huge.(...)
(...)The eurozone needs tougher fiscal rules. But it also has to set limits on intra-eurozone current account surpluses and deficits. Fiscal rules will mean little without the latter. The alternative to such rules is a fiscal (hence political) union. This would involve the "stronger" economies transferring money to the "weaker" ones on an ongoing basis, much as happens within individual member states. No one appears to want this, least of all the "strong" countries." - Simon Tilford in Finantial Times
(...)The eurozone needs tougher fiscal rules. But it also has to set limits on intra-eurozone current account surpluses and deficits. Fiscal rules will mean little without the latter. The alternative to such rules is a fiscal (hence political) union. This would involve the "stronger" economies transferring money to the "weaker" ones on an ongoing basis, much as happens within individual member states. No one appears to want this, least of all the "strong" countries." - Simon Tilford in Finantial Times
O autor aponta uma receita. Mas estarão países como a Alemanha dispostos a aceitá-la?
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