Euro Crisis: What could work is impossible and what is possible doesn’t work
Euro Crisis: With one week to go to another summit of leaders of the Eurozone, scrambling again for solutions to the debt crisis, there are many proposals on banking unions, deposit insurance across the single currency area, mutualisation of debt and so on. On the one side led by France, are demands for radical moves while President Hollande has no mandate for domestic reform. Resisting demands is Germany, unless there are moved to a closer union between the member countries of the euro area. Meanwhile there is evidence that the impact of new stop-gap measures is waning over time. The dilemma for leaders is: What could work is impossible and what is possible doesn’t work
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