The current problems of the European Union are not so much of an economic as of a political nature. Even under enormous pressure, member state leaders have failed over and over again to agree on any substantial economic reform package or the strengthening of the EU structures.
Yes, there were several deals along the way. But it was never enough, as we saw from the unrelenting pressure from the financial markets. That is because nobody in the financial world really believes that the eur...
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