Publication

This report states that the eurozone has been unable to develop a convincing economic strategy to revive economic growth, bring excessive public debts back to normal levels, restructure the Greek debt, and raise credible liquidity walls around the other distressed sovereigns. It further states the Eurosummit should find agreement on a less unbalanced policy combination between discipline, liquidity support and growth policies. The author argues that without these measures the eurozone and the Union will risk breaking up and provoking large economic dislocations. He further offers that a ready alternative is to follow the Article 136 procedure, which allows Eurozone members to insert in the TFEU special provisions applicable only to themselves.