From the outset, Britain viewed membership in the European Union as a means to access wealthy consumers, and not much else. Now that the payoff is lower, the UK is getting cold feet.
By Mohamed El-Erian
FORTUNE -- In one big lunge, UK Prime Minister Cameron's promise of an in/out referendum on membership of the European Union has made explicit a number of simmering issues that are both complex and consequential -- MOREJan 29, 2013 9:32 AM ET
Don't believe the politicians. The common currency can't survive as is. Here's the right way to handle a split.
FORTUNE – Roger Bootle prides himself on being something of a modern-day Nostradamus -- with good reason. In 1999 the British economist predicted a bursting of the dotcom bubble, and in his 2003 book, Money for Nothing, he forecast a worldwide crash in housing that would prove dire for the financial system. MOREShawn Tully, senior editor-at-large - Sep 25, 2012 5:00 AM ET
From up close, it looks like the 'poorer' nations could do just fine without a single currency.
By Erin Burnett, contributor
FORTUNE -- This summer trips to Europe opened my eyes to something: There's a lack of passion in Europe for keeping the euro. Yes, the pain of a breakup would be severe. But many of the poorer southerners of Europe don't seem to feel that they need "Europe" anymore.
That, at MORESep 12, 2012 5:00 AM ET
Despite the many dire predictions about the collapse of the euro zone's common currency, there are good reasons to believe it will survive.
FORTUNE – The state of the euro looks bleaker by the day. Amid a deepening banking crisis in Spain and ahead of a pivotal June 17 Greek election that could make or break the nation's ties with the euro zone, the idea of a euro break up has MORENin-Hai Tseng, Writer - Jun 7, 2012 11:28 AM ET
It's time to press the reset button in Europe -- if members of the EU want a common currency, they should give up their national identities in favor of a European one.
By Cyrus Sanati
FORTUNE -- There is growing fear that the European debt crisis may have given the euro an incurable disease that could not only bring down the common currency, but also lead to the total collapse of MOREMay 30, 2012 9:46 AM ET
If the EU's leading nations aren't willing to forgive the debt of their troubled bretheren, then maybe they need to start printing more euros.
By John Cassidy, contributor
FORTUNE – From the U.S., the European debt crisis can seem like a black comedy populated by regional stereotypes: iron-fisted Anglo-Saxons, feckless Mediterraneans, and haughty Brussels bureaucrats. Closer to the action, it isn't funny at all. In the words of Mervyn King, governor MOREMay 30, 2012 5:00 AM ET
The new leaders in France and Greece should reassure the markets that they're willing to work within the existing framework of agreements and that they're committed to the euro.
By Cyrus Sanati
FORTUNE -- The elections in France and Greece over the weekend have created a crisis of confidence that could eventually drown the euro and push the continent into a deeper recession. Talk of tearing up past agreements and a MOREMay 9, 2012 10:05 AM ET
Financial executives are worried about tougher regulations should Socialist leader Francois Hollande win the French presidential election. They should be.
By Cyrus Sanati
FORTUNE -- France's presidential election has Wall Street and the global markets worried – and for good reason. The election of Socialist party leader Francois Hollande to France's top job this coming Sunday would introduce an air of instability into the global economy at a time when it MOREMay 4, 2012 9:06 AM ET
The debt restructuring last week was deemed a success, but if Greece continues in its current state with no outside economic stimulus, it will burn through that 130 billion euros in no time.
By Cyrus Sanati, contributor
FORTUNE -- French President Nicholas Sarkozy declared Friday that the long-running Greek debt "problem" had finally been "solved," following the successful implementation of a massive debt restructuring in the country. But while the restructuring was more successful than many MOREMar 12, 2012 12:07 PM ET
Greece's problems aren't all about debt. They're about competitiveness, and changing the arcane rules in areas from the cruise industry to pharmaceuticals would help it reboot its economy.
FORTUNE -- The searing images from Athens -- the streets choked with rioters, stately buildings and Starbucks' ablaze -- are masking a drive to liberate markets that's unlike anything any nation has attempted to do in decades. The platform is being pushed hard MOREShawn Tully, senior editor-at-large - Feb 15, 2012 9:20 AM ET
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