Tuesday, March 26, 2013

Behind the scenes of a disastrous European bargaining

This article from the Wall Street Journal is a must-read in order to measure the chaotic process of European negociations about the bail-out of Cyprus last weekend and the growing political mistrust and resentment between European countries.
"I have never, ever witnessed anything like this. It's a disaster.", a senior Eurozone official said.
The bitterness over the Cyprus mess will probably hamper future attempts to fix the bloc's flaws : if and when a much bigger nation like Spain or Italy will request a financial help from its European partners, will Eurozone have any chance to avoid a breakup ?
The next test of Eurozone cohesion will probably be Slovenia. A mess again ?

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