This is not easy for politicians to sell, especially in the core countries (particularly Germany, Finland, and the Netherlands), as it would involve large multi-year subsidies to the periphery – or the analytical equivalent of the difficult decision made over 20 years ago to reunify Germany at a currency parity.
S’ils entendent définitivement tourner le dos au risque de fragmentation de l’Eurozone, ils devront trancher. Ou bien les dirigeants décident de laisser la politique dominer l’économie.