Global Macro Monitor

After four successive crisis years, an economic recovery in Europe is within sight. The euro’s survival – which was in question as recently as a year ago – appears assured. But the crisis remains chronic, if not fatal. Without further steps – closer economic integration and a banking union – the single currency will be at risk and the eurozone divided between northern creditors and southern debtors. And there are fresh signs that at the very least Greece, and possibly Ireland and Portugal, may need further rescue funds. But a break-up would be the worst option for all, including Germany.Financial Times editor Lionel Barber gives his views on the ongoing Eurozone crisis, the economic and political challenges ahead, and the future of the Euro.

Lionel Barber has been editor of the Financial Times since November 2005.  – LSE

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