I have been following the eurozone crisis since May 2010. The ramshackle project was doomed to failure in its current form as it lacks the essential ingredient of fiscal union, which presupposes political union well beyond the provisions of the Treaty of Lisbon.
It is not as though the eurozone crisis is the only problem confronting the world economy. The USA and China are both experiencing problems and resolution of the eurozone issues is vital to their economic well-being.
The IMF, EU, G20, and politicians in the eurozone and the wider EU are desperately seeking a solution against a backdrop of disenchanted electorates and opposition in national parliaments. In some countries civic unrest is reaching dangerous levels.
It is against this background that I commend the following articles:
http://www.telegraph.co.uk/finance/comment/8787064/Eurozone-leaders-comedy-of-errors-brings-monetary-union-to-the-brink.html
http://blogs.telegraph.co.uk/news/danielhannan/100107054/greece-prepares-to-default-within-the-euro-the-worst-of-all-possible-worlds/
http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/8788138/Geithner-Plan-for-Europe-is-last-chance-to-avoid-global-catastrophe.html
http://www.telegraph.co.uk/finance/comment/jeffrandall/8788501/Eurozone-crisis-there-are-no-miracles-in-Greek-tragedies.html
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