How Does the E.U. Think This Is Going to End?

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The European Union is a lot less cohesive than this map suggests, with Italy being the latest and largest crisis catalyst.
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This NY Times Editorial makes a good a good diagnosis of the Italian debt problems, goes through all the options to fix them within the EU framework and correctly rejects them as unworkable. But the final "offer (of) something positive in exchange, such as a common European investment and growth strategy" (basically the former Greek Finance Minister Yanis Varoufakis' solution too), falls short too, politically & economically. Monetary sovereignty may be the only solution, and political sovereignty may be the only way to get to that if the bank-dominated EU won't cooperate.

Read the rest of the story HERE:

At www.nytimes.com

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Scott Baker is a Managing Editor & The Economics Editor at Opednews, and a blogger for Huffington Post, Daily Kos, and Global Economic Intersection.

His anthology of updated Opednews articles "America is Not Broke" was published by Tayen Lane Publishing (March, 2015) and may be found here:
http://www.americaisnotbroke.net/

Scott is a former President of Common Ground-NYC (http://commongroundnyc.org/), a Geoist/Georgist activist group. He has written dozens of articles for (more...)