The Euro Crisis: Preservation or Dissolution? An existential crisis for the euro.
Written by Alan Dukes
5 September 2012
In “Preservation or Dissolution: An Existential Crisis for the Euro” Alan Dukes argues that the recent history of attempts by Europe to deal with the crisis have failed. They have followed a country-by-country approach that ignores the fact that “a problem in one part of a common currency area is a problem for the whole area”. Mr Dukes argues for the radical solution of a “Eurozone-wide debt default in a volume sufficient to reduce the collective debts of the “problem” countries to levels consistent with sustainable debt/GDP ratio”.