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The Lack of Leadership Is Deeply Felt in Western Countries

In: Breaking Up the Euro

Author

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  • Dimitris N. Chorafas

Abstract

From time to time, the Brussels-based European Commission outlines proposals that would allow Euroland’s rescue mechanism to directly bail out member states or their banks. For instance, lending €100 billion ($130 billion) to Spanish banks whose bad loans are over €300 billion, and lending to governments at the same time. The common characteristic of these proposals is that they end up in the wastebasket (where they belong) shortly after they have been formulated.

Suggested Citation

  • Dimitris N. Chorafas, 2013. "The Lack of Leadership Is Deeply Felt in Western Countries," Palgrave Macmillan Books, in: Breaking Up the Euro, chapter 2, pages 25-48, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-33229-5_2
    DOI: 10.1057/9781137332295_2
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