Searching for ways to sustain the unsustainable eurozone

The eurozone is fulfilling far too few of its remits. What can be done to tackle growing anti-EU sentiment, asks Yannos Papantoniou

WHEN the eurozone was established, its creators envisioned gradual progress towards an “optimal curr- ency area,” characterised by fiscal integration, free movement of labour, and political union.

This process has not occurred, and, as the interminable Greek crisis has shown, the eurozone remains rife with structural weaknesses and extremely vulnerable to internal shocks. This is clearly not sustainable.