Why did Europe fail to manage the euro area crisis and what lessons can be drawn from this failure for Europe"s future …? Studying the EU / IMF program that was imposed on Greece in May 2010 – the original sin of the crisis – highlights both the …

Grauwe, 2006). This optimism is, however, not warranted for the euro. The euro has now been in a crisis for more than three … years and a self-correcting mechanism leading out of the crisis is not in sight. The reason is that the euro union does not …, this being the essence of the euro crisis. Therefore the governments should withdraw and return to an economic union …

Grauwe, 2006). This optimism is, however, not warranted for the euro. The euro has now been in a crisis for more than three … years and a self-correcting mechanism leading out of the crisis is not in sight. The reason is that the euro union does not …, this being the essence of the euro crisis. Therefore the governments should withdraw and return to an economic union …

This research note discusses the Euro crisis in Greece in light of the referendum of July the 5th. It lays out the …