During eurozone economic crises, the onus invariably falls on France and Germany to co-ordinate a recovery strategy. Indeed, such pressures have resurfaced following the UK’s vote to leave the EU, but Patrick Artus questions this traditional approach.
Writing for FTSE Global Markets, Natixis’ chief economist believes the markedly-different economic structures of the eurozone’s largest economies is causing blurred political objectives and, therefore, hampering the EU’s chances of recovery.
Artus says, “Now is a perfect opportunity for EU members to re-evaluate the bloc’s political and economic crisis management strategies. With this in mind, it is clear to us that the Franco-German-led approach cannot best serve the region’s interests, and by simply opening the door to more eurozone members to create a more balanced top table, the eurozone may just find a solution.”
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