Confronting the Euro-Crisis

May 17, 2010  |  

( — Confounding fears that the European project was moribund, the European Union came through last weekend with a massive bailout fund for Greece, and possibly other heavily indebted EU members. But although the Europeans were able to agree on the bailout, the road forward will not be easy. Europe now has to do three things. First, it must improve the economic governance of the euro area. Second, it must figure out how to grow its economy faster. Third, it must move toward greater political integration among its members.

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