A few interesting articles on the Greek tragedy and future of the Euro

The following words are those of Joseph E. Stiglitz in a Project Syndicate article:

"There is a third solution, which Europe may come to realize is the most promising for all: implement the institutional reforms, including the necessary fiscal framework, that should have been made when the euro was launched.
It is not too late for Europe to implement these reforms and thus live up to the ideals, based on solidarity, that underlay the euro’s creation. But if Europe cannot do so, then perhaps it is better to admit failure and move on than to extract a high price in unemployment and human suffering in the name of a flawed economic model."

Joschka Fischer, also on Project Syndicate, discusses American attacks on Germany's and China's positive current accounts and the effects they have on other countries in Europe to which 67% of Germany's export goes. Stiglitz means that one solution for these other countries is that Germany would exit the Euro zone.

Paul Krugman at The New York Times claims that Greece in all probability will default and end up outside the Euro zone.

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