The other exit strategy
January 20, 2010 7:01 AM Subscribe
With quantitative easing
on everyone's minds
, pundits of all sorts talk about
Central Bank exit strategies
. But in The Treaty of Lisbon
, which came into force across the EU on December 1st, 2009, it turns out European member states have put forward an exit strategy of a completely different kind
When the Euro
was initially introduced on January 1st, 1999, the merging national currencies and monetary systems was said to be irreversible
. So why talk of exit strategies now?
With unease growing about the fiscal responsibility of what some in private call the "PIIGS" states (Portugal, Italy, Ireland, Greece & Spain), it seems many in the so-called "core" European nations are now openly planning for what a decade ago was unthinkable.
And this raises an interesting question - if a member state does indeed leave the union, will it be a case of publicly jumping or privately being pushed?