Heather Maher, RFE/RL May 21, 2012
American economist Paul Krugman thinks introducing the euro was a mistake. But he also thinks it needs to be saved.
The current crisis in the eurozone is being driven by heavily indebted Greece, which is spiraling into political and economic chaos caused by a public backlash over government austerity measures. EU and International Monetary Fund (IMF) leaders have demanded the measures in return for bailing the country out.
Fears are rising that Athens is on its way out of the eurozone. Krugman thinks it probably is, and says the consequences would be "ugly."
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Paul Krugman Predicts Greek Euro Exit, But Larger Crisis Averted (1)