Greece: A Vote for the Euro!—or Maybe Not …

Posted by John Rosenthal

The results of Sunday’s legislative elections in Greece have been widely hailed as a vote “for the euro,” with news services painting the elections as a virtual “referendum” on eurozone membership. “For the euro” in the present context means, more precisely, for the austerity measures that the European powers-that-be have made clear are the condition [...]

Germany and the Euro Crisis

Posted by John Rosenthal

Lazy, profligate, scheming Greeks versus honest, thrifty, industrious Germans. Southern vice versus northern virtue. For much of the news media, the euro sovereign debt crisis could be summarized in the form of a morality play opposing national or regional stereotypes. But what if the financial strains on the so-called PIGS that threaten the eurozone are [...]