Neuschwanstein Castle in GermanyAfter the Greek and Irish crises and the spread of financial contagion to Portugal, Spain, and possibly even Italy, the eurozone is now in a serious crisis. There are three possible scenarios: muddle through, based on the current approach of "lend and pray"; breakup, with disorderly debt restructurings and possible exit of weaker members; and greater integration, implying some form of fiscal union.The muddle-through scenario"”with financing provided to member states in distress (conditional on fiscal adjustment and structural...
Source: http://www.realclearpolitics.com/2010/12/18/how_to_save_europe_247565.html
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