Room for Debate
May 24, 2011
Global markets slipped on Monday as worries rose about the euro zone's fiscal stability. Meanwhile, Greece's cabinet approved another package of spending cuts and asset sales in response to demands from euro zone partners -- including Spain and Italy -- that it move faster on austerity measures.
Skeptics are saying that Greece, facing loans of more than 150 percent of gross domestic product, will eventually have to restructure its debt — paying back less than face value.
What's the answer for Greece? If staying in the euro zone means living with austerity plans that could lead to years of high unemployment and recession, would leaving the euro be a sound option?
Simon Johnson, "The Euro Zone's Structural Problem"
Barry Eichengreen, "Beyond Austerity Plans"
Anat R. Admati, "How Banks Fueled the Crisis"
Vanessa Rossi, "It Could Have Been Worse"
Desmond Lachman, "Dump the Euro"
Edward Harrison, "It's About Political Will"
Veronique de Rugy, "Expect More Bailouts"
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