|Mario Monti: Eurobonds are the only answer to Europe’s crisis|
| Eurozone leaders face a fundamental choice when they meet on Thursday. Either they declare, once again, that they stand ready to do “whatever is necessary” to overcome the eurozone crisis, or they actually do it. |
In the first case, markets are likely to step up to the next stage of their challenge to the European authorities. They will target larger countries, such as Italy and Spain, thus making the “whatever necessary” ever more costly and ever less credible.
Wednesday, July 20, 2011
Posted by Michele Kearney at 9:02 AM