- Published: Saturday, 11 February 2017 11:17
- Written by Costas Lapavitsas, Theodore Mariolis, Constantinos Gavrielides
In late 2016 the crisis in Europe had remained fundamentally unresolved. The underlying condition of the European Economic and Monetary Union (EMU) was poor and its future precarious. In historical terms the EMU has been a failure and there seems to be little that could be done institutionally, or politically to rescue it. Even worse, the crisis and the policies deployed to confront it have undermined the EU itself.