The German Problem; The Euro Crisis  

Oleh:

[s.n]

Jenis: Article from Bulletin/Magazine
Dalam koleksi: The Economist (http://search.proquest.com/) vol. 401 no. 8760 (Nov. 2011), page 16-17.
Topik: Political Behavior; Economic Crisis; Leadership; Economic Reform; Euro
Fulltext: The German problem.pdf (38.12KB)

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: EE29.69 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

Lihat Detail Induk

Isi artikel

Even by Europe's cacophonous standards, German policymakers sent mixed signals on the euro this week. At her party's conference on Nov 14, 2011 the chancellor, Angela Merkel, left no doubt about the gravity of the euro crisis. If the euro fails, then Europe fails, she said. If Merkel wants to save the euro, therefore, she must challenge her country's economic establishment, and explain to voters why the revered Bundesbank's rigidity is wrong. German orthodoxy ignores the possibility that rising bond yields are being driven by a self-fulfilling panic in financial markets. Investors who once regarded Italian bonds as a safe asset now worry about everything from the integrity of the credit-default-swap market to a possible break-up of the single currency. The result is a stampede for the exit, which cannot be stopped by Italian policy reforms alone. So by adding to the pressure on the governments of countries in crisis, the Germans and their allies succeed in forcing reform, but at the cost of making it far harder to rescue the euro.

Opini Anda

Klik untuk menuliskan opini Anda tentang koleksi ini!

Kembali