The EU’s unwilling golden goose
The crisis of the European single currency is a systemic crisiswhich has been coming for some time. As long ago as 1999 the “Manifesto onUnemployment in the EuropeanUnion”written by economists Franco Modigliani, Jean Paul Fitoussi, Beniamino Moro, Dennis Snower, Robert Solow, Alfred Steinherr and Paolo Sylos Labini drewinternational attention to the lack of employment and growth. ... This “Manifesto” is still relevant today, as is shown by the fact that at the last EU Summit in Brussels the main topics of discussion were unemployment and growth. In fact Chancellor Angela Merkel had already emphasized the importance to theWestern economies of resolving work-related problems as well as those related to growth, at the World Economic Forum in Davos. Still today Europe finds itself in the position of having to find solutions to fundamental problems. The fact that almost 13 years later unemployment and growth are still being discussed shows that the present crisis of the euro and national de...