The Collapse Of Europe Has Begun

Opinion: (Beatrice di Mauro, a member of German Chancellor Angela Merkel’s council of economic advisers, from Süddeutsche Zeitung): “Policy makers are making effort to tame the debt crisis. Yet, it is the eurozone that is under the biggest threat. The crisis can also spread to the rest of the world…

“The debt reduction only works long term. Our goal is that in about two decades, the national debt in all eurozone countries is 60% of their GDP.

“With regard to the collapse of the EU, it has long since begun. For ten years, there has been an illusion that a single currency means a single zone. Now, the national vision of problems is dominant everywhere, and it turns out that the last 10 years have passed in vain….”

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