20120806 Follow Me 452 Euro-zone leaders are hoping for a quietish August.

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Euro-zone leaders are hoping for a quietish August. But the autumn will bring storms.

Aug 4th 2012 | from the print edition http://www.economist.com/node/21559925

Everyone is welcome to comment the issues covered in the article under the main thread.

WHAT a miserable summer for Europe’s leaders. Away hiking in northern Italy, Angela Merkel spoke by phone to Mario Monti to promise to do “everything necessary” to preserve the euro. The Italian prime minister then toured European capitals seeking help to hold down his country’s borrowing costs. Meanwhile Wolfgang Schäuble, the German finance minister, hosted the American treasury secretary, Tim Geithner, during his holiday on the German island of Sylt. And the man everybody is watching, Mario Draghi, president of the European Central Bank (ECB), promises: “I will not be going to Polynesia—it’s too far.”

But if the holiday is already a write-off, September promises to be worse: a rentrée chaude, a “hot” return to work. Several things are likely to bring the euro crisis to a head. These include the prospect that Greece may run out of money and drop out of the euro, continuing meltdown in Spain, awkward elections in the Netherlands, a legal challenge in Germany’s constitutional court and political resistance to a more integrated euro zone. All told, the autumn of 2012 may determine the fate of the euro.


Start with Greece. Come September the wreckage of Greece’s public finances will become more obvious. The matter lies half-hidden behind technical discussions, but the “troika” of officials from the ECB, the European Commission and the IMF will eventually have to produce a report. The word is that the shortfall in Greece comes to tens of billions of euros.

To stay afloat, Greece needs both more austerity and more money. Both may prove politically impossible. Having already agreed to two bail-outs for Greece, its exasperated creditors are in no mood to provide a third—particularly not one that may require them to forgive a big chunk of Greece’s official debt.

German politicians are already debating how soon Greece should be thrown out of the euro. For Philipp Rösler, leader of the liberal Free Democrats, “a withdrawal of Greece has long since lost its terror”. Yet many still worry that other weak Mediterranean countries may then be pushed out as well. Will “Grexit” be followed by Spexit, Portexit or Italexit?

Due to word limit, you guys can read the full article at http://www.economist.com/node/21559925

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关键词：leaders Leader hoping follow AUGUST hoping

你可以加些自己额意见或者看法在里面
否则光有一篇文章，意义也不是很大

primmxz 发表于 2012-8-5 12:33
你可以加些自己额意见或者看法在里面
否则光有一篇文章，意义也不是很大

I don't have time to comment every single forwarded article. However, I will post my comments within the main thread when I have time.

It seems more likely that Greece may be thrown out of the eurozone, and what consequences will happen is still a question to answer which is important for countries and enterprises all over the world. Next, which countries may go the same way, and what will happen are to be answered.

According to the author, the Euro Zone is facing a bigger problem? I believe the European leaders will give good policies to promote the economy and drag the whole area out of crisis.
One more question, why people need 5 point of special access to read your articles?

Before having unified fiscal policies, there should be a perfect exit mechanism in Euro-zone. Otherwise,  the Euro might face the danger of collapse when serious financial crisis occur.