The real challenge over the next few years will be to avoid the shipwreck of the eurozone economy in what is often called a Japanese-style deflationary scenario - but with the Chinese slow-down feeding into it.
Ivan Van de Cloot tackles the agenda of reforms and measures to avoid financial catastrophies that can endanger the financial system and whole countries. It’s a plead for more economic sense for reality in Europe, better governance, and a return to real relationship banking.
It’s important to consider that the euro crisis still is awaiting fundamental answers. The ECB only bought time. Measures to reduce the fundamental instability of the Western economies are still needed.
The intervention of the European commission is to be considered a sign of progress on the road towards European integration and a positive consequence of the current crisis.
