Currency

NYT Excerpt: Is The Euro Toast?

In his New York Times Magazine column this week, Adam Davidson sketches out seven story lines to watch in Europe this fall. One overarching story line: Is the euro toast? He writes:

Despite its many noble goals, the euro has been, in many ways, disastrous. It has taught many economists that there is no way to have a single currency without a single government or, at the very least, a unified financial policy. Europe has two choices: deeper integration or fracture. We may be inching toward the day when bureaucrats from Brussels will show up in Athens, Rome and Madrid and tell elected officials how to do their jobs. If you thought Greek and Italian governments were unstable when the countries were fully independent, just wait.

Read the whole column here.

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