quinta-feira, julho 30, 2015

Eurozone warning messages more important than Varoufakis as messenger

Varoufakis personality issues distracts us from the critical context of Eurozone divergent performance

Greek ex-Finance Minister Varoufakis touched a raw nerve with Greece's aggressive debt workout strategy, and now they won't let him get off the stage. His colorfull personality attracts both positive and negative attention that could be better focused on the failed  principles of European convergence and on the growing Eurozone divergence.

Varoufakis may  have become the debtor all the creditors love to hate and he may generate great copy, and aggreesive press.

But the real issue is :
Are we ALL happy with the economic performance of the Eurozone as an economic block ?  

Some  Eurozone members, the creditors, are quite happy with the Euro as it is, thank you.

Other Eurozone members, the debtors, are unhappy, and have every reason to be more and more fearful for their economic future, since little is being done to correct the intra-Eurozone imbalances.

The financial media and others should focus on these serious Eurozone troubles, and not waste time dumping on or "killing the messenger".

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