
The future of the Euro is uncertain
A decade ago, Europe clambered out of the 2008/09 financial crisis only to fall into the sovereign debt crisis of 2010. As the global economy rebounded, Greece, Italy and Spain all had to be bailed out by the ECB as investors lost faith in their ability to carry on servicing their loans. Deep economic cuts imposed in Greece as a condition of the bailout threatened political stability. Could it be about to happen again? Will Europe climb out of the very deep economic hole created by the Covid pandemic only to slide into a hole of sovereign debt? For the moment, that seems a distant question because the Covid hole
