All in this together

A short piece in the Financial Times (issue of June 23rd) titled “Euro all in this together” (which I could not find a link for on the web) explains in simple mathematics why a more federal union with shared deficit would absorb the shock of the Greek debt (and also for the other “PIGS”) without  blink…

Sure, it is probably a very simplistic view and demonstration, but that is one more example of how a more integrated Europe would be a more than appropriate response to the debt crisis in the Eurozone.

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