[lit-ideas] Europe's New Normal

  • From: Omar Kusturica <omarkusto@xxxxxxxxx>
  • To: "lit-ideas@xxxxxxxxxxxxx" <lit-ideas@xxxxxxxxxxxxx>
  • Date: Sun, 20 May 2012 05:38:52 -0700 (PDT)

The eurozone's troubles no longer qualify as a crisis, an unstable situation 
that could either quickly improve or take a dramatic turn for the worse. They 
are, instead, a new normal -- a painful situation, to be sure, but one that 
will last for years to come. Citizens, investors, and policymakers should let 
go of the idea that there is some magic bullet that could quickly kill off 
Europe's ailments. By the same token, despite the real possibility of Greek 
exit, the eurozone is not on the brink of collapse. The European Union and its 
common currency will hold together, but the road to recovery will be long. 

http://www.foreignaffairs.com/articles/137642/r-daniel-kelemen/europes-new-normal?page=show ;

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