All the other options – such as the IMF’s current plan – just put band-aids over the mess – and they are weak bandages at best.
Meanwhile, the ECB will have to continue funding the deficits across the union (even though it claims otherwise) and the European Commission will tempt disaster if it tries to reassert the Excessive Deficit Mechansim.
It is a mess – a totally dysfunctional mess.
One probably calls this international reactionary solidarity. Read here
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