Will the eurozone crack?
Europeans often refer to Economic and Monetary Union and enlargement as the EU's two greatest successes. However, the basis for a sustainable currency union is not in place. Unless the members rapidly boost their reform efforts, and unless economic growth across the eurozone accelerates, EMU faces a bleak future. What happens in Italy will be critical. If Italy fails to improve its competitiveness, it will eventually have to leave the eurozone.
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