Friday 15 December 2017

D-Day close for future of euro

Sooner or later, the European Union must decide whether to save or abandon the common currency. The decision had better come sooner rather than later. In fact, it had better come on a specific date: Friday of next week, December 9, 2011.

On that date, the leaders of the EU will come together for what everybody has agreed to regard as a fateful meeting. They cannot afford to repeat the blunders of the summer and watch with humiliation as the financial crisis escalates.

Their procrastination and their constant failures to agree on how to tackle the emergency have placed the eurozone, the wider European Union and, potentially, all the world's major economies in a situation for which a satisfactory outcome is literally impossible.

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