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“Three Problems of Europe: Divergence, Indebtedness and Weak Banks”
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The new director of the Austrian IHS (Institute of Advanced Studies) Christian Keuschnigg thinks that a Greek exit would have to take place suddenly.
“Three Problems of Europe: Divergence, Indebtedness and Weak Banks” / Picture: © Institut für Höhere Studien - Institute for Advanced Studies
In an interview with the Austrian newspaper “Standard”, Keuschnigg explains the core problems of Europe. First, the high public debt is not only a problem in Southern European countries, but also in Northern countries. Second, the competitiveness is diverging enormously. In the South, wages grew much higher than productivity. This caused a rise in the current account deficits. In…
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