Visiting the Financial Times a couple of weeks ago, Luis de Guindos, Spain’s economy minister, predicted: “The battle for the euro will be fought in Spain.”
With Spain’s decision this weekend to accept international aid to save its banks, the battle is now joined. The stakes are very high. Writing in this paper, Niall Ferguson and Nouriel Roubini warn that Europe is “perilously close” to “repeating the disasters of the 1930s”.
As in the 1930s, a conflict in Spain is now seen as critical to a wider struggle for the fate of Europe. It cannot be long before an international brigade of Keynesian economists sets off for Catalonia. Once again, Germany is cast as the villain in a pan-European drama.
您已阅读13%（699字），剩余87%（4720字）包含更多重要信息，订阅以继续探索完整内容，并享受更多专属服务。