It would be preferable either a clear statement that euro countries do not allow a default of a member country , or an immediate debt restructuring, while the EU policy of “buying time” gives room to speculative attacks.
The policy and the institutional options taken by core and peripheral European countries do not appear as the result of too haste political decisions or ill institutional design, but as deliberate choices, method in the madness
The austerity measures proposed by Wisconsin Governor Scott Walker are misguided. Public-sector workers’ compensation is neither the cause, nor can it be the solution to, the state’s financial problems.
