Countries using the Euro de jure Countries and territories using the Euro de facto Countries in the EU not using the Euro (Photo credit: Wikipedia)
Chancelor of the Federal Republic of Germany Dr. Angela Merkel signing autographs on the open door day at the Bundeskanzleramt in Berlin, Germany Français : Dr Angela Merkel, chancelière de la République Fédérale d’Allemagne, signe des autographes lors de la journée portes ouvertes de la Bundeskanzleramt à Berlin, en Allemagne. (Photo credit: Wikipedia)
This is a very good article in the FT and well worth a read. Check it out!
Eurozone sets bleak record of longest term in recession – FT.com.
Personally, I think two actions are urgently required:
- Fiscal loosing, especially in Germany, reducing the severity of austerity
- Aggressive stimulus from the ECB, like the Fed and the BoE.
Sadly, I fear that German Chancellor Angela Merkel‘s government will continue to veto remedial actions, certainly until the election September.