This paper addresses what went wrong during the past ten years [in the eurozone] and discusses how those issues can be reasonably resolved.
Washington, DC (PRWEB) July 30, 2012
The Group of Thirty today released The Long-term Outlook for the European Project and the Single Currency, by Jacques de Larosière.
Jean-Claude Trichet, Chairman of the Group of Thirty, stated: "Europe and financial communities across the globe will find this paper to be an excellent commentary on how the eurozone can address its current problems to develop harmoniously in the future. This paper sheds light on the contentious issues and the Group welcomes the addition to the debate. "
"This paper addresses what went wrong during the past ten years and discusses how those issues can be reasonably resolved," said Mr. de Larosière.
He added, “The question of whether countries should remain in the eurozone has a clear answer: yes, they should remain. Costs of exit are too great, and I address each in the paper. It is clear that the eurozone is embarking on the right course with more fiscal responsibility and integration, but stronger solidarity is needed.”
PDFs of this paper are available for free online at http://www.group30.org/publications.shtml, or via email at info(at)group30(dot)org. Hard copies are available for purchase on our website.