Euro-zone Debt Crisis, European Monetary Union to Muddle Through or Fall Apart?

"Ingo Schmidt writes: Springtime in Athens, Dublin in the fall. Lisbon next time or Madrid? The sparks of public deficits, foreign debt, and soaring risk premiums have lit a fire of fiscal and debt crises in the European periphery that have even inflamed the corridors of Euro-power – the European Central Bank (ECB), the European Commission and the capitals of the European Union (EU) heavyweights of France and Germany. In May, when Greece accepted a €45-billion bailout package, with the usual neoliberal adjustment strings attached, only a few folks on the fringes of the political spectrum speculated about the break-up of the Euro-zone. The recent negotiations between the Irish government and the EU, the International Monetary Fund (IMF), and the governments of Britain, Denmark and Sweden, were concluded with an additional €85-billion worth of credits and guarantees being anted up. But they also have started to raise serious concerns about the future of the Euro..."

at http://www.marketoracle.co.uk/Article25158.html