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The Times - United Kingdom | Sunday, July 5, 2015

The euro project is severely damaged

Even the most enthusiastic supporters of the single currency must now concede that it has landed Europe in huge problems, the conservative daily The Times observes: "The euro project, a vision of political and economic harmony achieved through the common use of a single currency, is now severely damaged. Those new members of the European Union who once eagerly committed themselves to the future adoption of the euro are now seeking ways to hold on to their own currencies. Those idealists who once trumpeted the single currency as a way of integrating Europe's disparate economies and giving them a new collective strength are now sheepishly talking down their hopes and admitting to difficulties."

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