Eastern euro

The eurozone doesn’t need to add new members which are in danger of default at the very moment it is trying to keep itself together. This is why it should reject the idea of a speedy “euro-isation” of some eastern European countries, proposed in a leaked memo from the International Monetary Fund. A week-end meeting of European finance ministers served to illustrate the problem. Following the EU commission’s recommendations, ministers set deadlines for Greece, Ireland, France and Spain to bring ...