Time to End the Eurozone?

Fight disinformation. Get a daily recap of the facts that matter. Sign up for the free Mother Jones newsletter.


Tyler Cowen on the latest news out of the eurozone:

At this point you have to be asking whether it is better to simply end the eurozone now, no matter how painful that may be….As a politician I probably could not bring myself to pull the plug, but as a blogger I wonder if that might not, at this point, be the wiser thing to do. Current crisis aside, does anyone out there see the euro’s governance structure — even with reforms — as even vaguely workable?

Nope, not me. But the sunk costs are simply too big for Europe’s leaders to be willing to dissolve the eurozone in response to anything short of a complete financial meltdown. As usual with financial crises, they can probably avoid this meltdown a lot longer than anybody thinks. But can they avoid it forever? It sure doesn’t look like it.

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate