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It’s time to tackle Europe’s economic and monetary slippage
A sovereign currency represents the collective characteristics of the issuing nation. The single currency of the European Union – the euro – is far removed from this status. Rather than demonstrating unity, it is a continuing source of tension, debate and dispute among the euro area’s constituents. At a time when the European Central Bank needs to go further in ‘normalising’ interest rates to counter persistent inflation, member states and the European Commission must demonstrate political will for corrective action. Unless new policies are forthcoming, sooner or later, a new euro crisis could erupt. The ... (full story)