How Will the Euro Crisis End?

More

The Peterson Institute recently staged a debate about the European debt crisis between Simon Johnson and Peter Boone in the pessimistic corner and Fred Bergsten and Jacob Funk Kirkegaard for the optimists. You can watch video here.

In a column for Bloomberg I offer my two cents. I think Boone and Johnson are too gloomy about the short to medium term: I doubt that the euro system is going to collapse this time, despite the amazing dithering of the EU's leadership. It's more likely they'll muddle through, because all parties have so much to lose if they fail. But I don't agree with Bergsten and Kirkegaard that the EU will emerge from all this not just intact but stronger than before. I argue that this crisis will weaken not strengthen the EU's institutions. They are sowing the seeds of the next, and bigger, disaster.

Jump to comments
Presented by
Get Today's Top Stories in Your Inbox (preview)

CrossFit Versus Yoga: Choose a Side

How a workout becomes a social identity


Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register. blog comments powered by Disqus

Video

CrossFit Versus Yoga: Choose a Side

How a workout becomes a social identity

Video

Is Technology Making Us Better Storytellers?

The minds behind House of Cards and The Moth weigh in.

Video

A Short Film That Skewers Hollywood

A studio executive concocts an animated blockbuster. Who cares about the story?

Video

In Online Dating, Everyone's a Little Bit Racist

The co-founder of OKCupid shares findings from his analysis of millions of users' data.

Video

What Is a Sandwich?

We're overthinking sandwiches, so you don't have to.

Video

Let's Talk About Not Smoking

Why does smoking maintain its allure? James Hamblin seeks the wisdom of a cool person.

Writers

Up
Down

More in Business

Just In