Ignore the headlines about €500bn to rescue Europe. Refusing to share debt across the eurozone threatens the union’s future, says Yanis Varoufakis, co-founder of the Democracy in Europe Movement
Europe suffered a historic defeat on Thursday night. After weeks of impasse, the Eurogroup gathering of finance ministers, whose countries share the euro, reached a decision on their collective response to the coronavirus pandemic’s economic impact. Besides constituting an epic dereliction of duty, the Eurogroup’s decision dealt a decisive blow to the foundations of the European Union – much to the delight of Europe’s critics and enemies.
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