How to save the Eurozone? - Hellenic Shipping News Worldwide

After the Greek and Irish crises and the spread of financial contagion to Portugal, Spain, and possibly even Italy, the Eurozone is now in a serious crisis. There are three possible scenarios: “muddle through,” based on the current approach of “lend and pray”; “break-up,” with disorderly debt restructurings and possible exit of weaker members; and “greater integration,” implying some form of fiscal union.