Eurozone: Economic Advisers

Sovereign Debt Dept: The 17-member currency union, which began jubilantly on Jan. 1, 1999, has lately been tested by severe recession and the prospect of sovereign-debt defaults, according to The Star. On paper, the eurozone is a force to be reckoned with. It encompasses a population of 329 million, about the size of the United States, and an economy of $11.5 trillion Canadian and the next few weeks will determine if the eurozone, one of the most ambitious and hopeful creations in history, can survive the year. Peter Bofinger, one of the German government s top economic advisers, told Reuters this week, I m not sure whether the euro area will remain intact for the next 12 months. That s an eye-opener, given Germany s role in spearheading the creation of the eurozone. As reported in the news.
@t peter bofinger, currency union