Economics weekly by Lloyds TSB

Can the euro-zone survive the crisis of confidence that is currently washing over the peripheral highly-indebted countries of Europe? That is the question that speculators are now daring to ask Can the Euro-zone survive the Greek tragedy?

Can the euro-zone survive the crisis of confidence that is currently washing over the peripheral highly-indebted countries of Europe? That is the question that speculators are now daring to ask, as the fiscal crisis in Greece threatens to spill over into Spain, Portugal, Ireland and Italy. After a decade of relative stability, policy-makers across the single currency area are now being forced to address the gaping fault-line that has been exposed in the EMU architecture – namely, whether a credible economic and monetary union can be sustained without credible and binding fiscal arrangements as well.

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