23
Feb

A Greek deal cannot fix the flaws in the euro – Gideon Rachman (FT)

Written on February 23, 2015 by Waya Quiviger in Europe

Gideon Rachman – Financial Times

euWatching the Greek crisis unfold, I found myself torn between two equal and opposite thoughts. First, the euro cannot survive. Second, everything must be done to save the euro.

The agreement reached between Greece and its eurozone creditors is therefore a good thing because it has put off the immediate threat of a political and economic crisis. But experience suggests that a debt deal with Greece may be only marginally more durable than a ceasefire in Ukraine. In both cases, there are underlying tensions and problems that cannot be solved by a cleverly drafted document.

There has rarely been a period when it is more urgent for Europeans to work together. Read more.

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