Financial crisis testing EU foundations, says Stiglitz

Nobel prize winner in economics, Joseph Stiglitz, says the financial crisis is forcing the EU to re-examine its cornerstone policy area – the single market.

"The crisis has brought home a couple of fundamental questions for the single market concept of Europe that have not really been adequately discussed," said the star economist at a conference on banking regulation in Brussels on Monday (12 October).

Referring to the banking collapses in Ireland and Iceland late last year, Mr ...