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Eurozone policy-makers have dug in their feet, preferring to deepen the crisis than admit their mistakes. Unless reason trumps moral posturing soon, dissolution of the eurozone is inevitable.
Le debolezze istituzionali dell'eurozona sono state messe a nudo. Il tentativo di attuare una politica monetaria comune senza un Tesoro comune è fallito.
The eurozone’s institutional weaknesses have been laid bare. The attempt to run a common monetary policy without a common treasury has failed.
In Europe, or in the US more particularly, we are seeing investors are losing confidence in the ability of various economies, various governments to service their debts.
The eurozone's debt crisis has spread to Italy. It is becoming increasingly doubtful that much-needed domestic economic reforms will be sufficient to restore market confidence in the country.
The pattern is now familiar. After prolonged and very public bickering, European leaders convene in Brussels to try and restore flagging confidence in the eurozone.
The attempt to run a common monetary policy without a common treasury has failed. Debt mutualisation is necessary if the eurozone is to survive.
George Soros is right that Germany's new approach to Europe bears some responsibility for the eurozone crisis. Germany's leaders are finding it hard to consider broader European rather than immediate national interests.