Sunday, December 11, 2011
Wolfgang Münchau: “The crisis goes on”
by CalculatedRisk on 12/11/2011 06:18:00 PM
From Wolfgang Münchau at the Financial Times: Snags, diversions – and the crisis goes on
Remember what everybody said a week ago? To solve the crisis, the eurozone requires, in the long run, a fiscal union with a prospect of a eurozone bond and, in the short run, unlimited sovereign bond market support by the European Central Bank. What we now have is no treaty change, no eurozone bond and no increase either in the rescue fund or in ECB support. … The crisis … goes on.
excerpt with permission