Dr. Peter Morici: Chasing dreams; EU €750bn bailout fund for Greece, others is not enough
May 10th, 2010 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Dr. Peter Morici: By establishing a €750bn fund to bailout Greece and aid other struggling governments, Germany and other strong European states are chasing a dream—a single European currency and broader European unity—that may have no place in reality. More budget crises will follow, if not in Greece then in Portugal, Spain, or perhaps Ireland or Italy, because the euro is simply not backed by a strong central government.