The Euro’s Growing Pains Antonio de Lecea European Union Delegation to the United States of America ________________________________________________________________________ The Streit Council for a Union of Democracies SAIS May 4, 2010. Outline. A Greek accumulation of policy mistakes…
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The Euro’s Growing PainsAntonio de LeceaEuropean Union Delegation to the United States of America________________________________________________________________________The Streit Council for a Union of DemocraciesSAISMay 4, 2010
It can’t happen,
It’s a bad idea,
It won’t last.
US economists on the EMU, 1989-2002
by Lars Jonung and Eoin Drea
Economic Papers No. 395 / December 2009
led to miss many opportunities from entry in the Euro Area
Greek spreads on 10 year benchmark bonds to German Bund
Greece and some Euro Area countries are not the only ones with large fiscal and external imbalances
Also state and local finances are a challenge