As a result, governments in the 16 countries that use the euro must now confront a new and disturbing reality: The deal they struck more than a decade ago to create a common currency area, hoping that a single central bank could manage to paper over the divergent economic and financial conditions of its members, is finally being challenged. Full Story »
Posted by Kaizar Campwala - via Slatest, Google News (Business)
A very readable story on the effect that deficits in southern European countries are having on the interest rates, the Euro and the view of the IMF.
Well written, good economic insight. The Euro is being tested; It may need the International Monetary Fund to stabilize its unity.
The European and American recovery are in a long stall; waiting for the global equalization that global markets have engendered.
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