A Bullish Comment On The Survival Of The Common Market

This article makes the case that the common market will survive, even if Greece is not part of the union. New restrictions placed on fiscal policy and enforcement will limit moral hazard and contagion.  The ECB will play a larger role in maintaining the banking system and the ESM will provide support to countries that follow the new rules that have been put in place.  Recovery will by slow for the countries on the periphery but recovery is always slow following a financial crisis and debt hangover. Germany can help to keep the eurozone growing by using fiscal policy to expand its economy.  It is in Germany's interest to do what it can to save the common currency.