So who started the euro crisis? Everyone, it seems. And it was a long time coming.
In a radio documentary for the BBC, Allan Little traces the euro crisis to the fall of the Berlin Wall. Italy, Greece and Spain have recently gotten a lot of press for poor financial decisions which are dragging down the entire European Union. But Little points out that the EU’s most powerful members – England, France and Germany – have long been pushing the continent in directions that mostly serve their own interests.
This story features the technocrats who engineered the euro, including those who warned that the continent should wait another generation before sharing a currency. It’s particularly intriguing – and a little disconcerting – to hear Little describe nations as fickle personalities, like when he refers to Britain as “always the half-hearted European.”
At times, this radio story might sound a little like inside baseball to an American audience (or inside football, for non-Americans). But if you’re interested in understanding the back story to current headlines about the eurozone crisis, this is a great place to start.