Covid-19 is first of all a health crisis. Its economic consequences,
however, are no less severe. Given the pandemic’s uneven progression
across Europe, unequal fiscal starting points geographically and this
month’s ruling by the German constitutional court, the coming months and
years will put the eurozone to the test once more.
In its current architecture, the eurozone is a web of glass—superficially stable, but brittle when subject to shocks. To avoid a break-up and render it resilient for the long term, the sources of this fragility must be identified and remedied.
Read more at:
Keeping the promise of eurozone convergence – Philip Heimberger, Maximilian Krahé, Dominic Ponattu and Jens van 't Klooster
In its current architecture, the eurozone is a web of glass—superficially stable, but brittle when subject to shocks. To avoid a break-up and render it resilient for the long term, the sources of this fragility must be identified and remedied.
Read more at:
Keeping the promise of eurozone convergence – Philip Heimberger, Maximilian Krahé, Dominic Ponattu and Jens van 't Klooster
