Quote:
Originally Posted by Slava
That is a fair characterization, but the fact is that the problem could at least be mitigated by the issue of Euro-bonds. The Germans refuse to back that action though. While you might see this as an amateur opinion, I have hard time thinking that Canada should help build a bailout fund when there is a pretty clear option that some involved parties just don't want to do.
|
I also support deeper fiscal EU integration through a common bond. But lets be realistic here, the Eurobond isn't an economic issue, it's a political flashpoint and not something we should be hanging our hats on while the walls come down. Sure the Eurobond is where we need to eventually go if the Euro is to have any future but in the meantime we should also be taking other contingency measures like shoring up the IMF.