Eurozone design and management failures

Europe’s sovereign debt crisis is a defining moment for the Eurozone. This Vox column argues that the crisis exposes weaknesses in the monetary union’s design, governance, and management – many of which were pointed out long before the euro existed. But, despite this, it adds that the Eurozone still has the ability to make good.

VoxEU.org is a policy portal set up by the Centre for Economic Policy Research in conjunction with a consortium of national sites, including the Italian site LaVoce, the French site Telos and the Spanish site Sociedad Abierta. Vox aims to promote research-based policy analysis and commentary by leading scholars. The intended audience is economists in governments, international organisations, academia and the private sector as well as journalists specializing in economics, finance and business.