Is the end of the euro near?
As investors stand by wearing story boards that read “The end is near,” conventional wisdom would dictate some action by European Union leaders to stem the financial crisis. Looking back at pervious global downturns, this usually occurs when political leaders adopt bold policies in order to reenergize market confidence.
So, is there time to save the Euro? “The answer is still yes, but the scale of action needed is growing even as the time to act is running out. The only institution that can provide immediate relief is the [European Central Bank],, says The Economist. Yet, the magazine notes, taking action does not ensure that disaster can be avoided.