Solutions for Europe

posted by
February 22, 2012
Independent Institute
by Alvaro Vargas Llosa  
Posted in Commentary

"According to the Maastricht (1992) and Lisbon (2009) treaties, in practice the only way to leave the euro is to leave the European Union. The exit of a member from the EU altogether, as opposed to just from the Eurozone, would trigger political chaos among Europeans convinced that the union must stay and who are obviously willing to pay any cost to prevent such an outcome. The challenge, therefore, is to find a solution compatible with Greece´s continued membership of the EU, which precludes the most reasonable outcome -- i.e. Greece´s exit from the euro." (02/21/12)  

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