The Eurozone – the Innovation Experiment is in Progress

... instruments prepared in advance which might be used in case of occurrence of such outbreak. The results were inevitable discussions and down time. Owing to the political nature of the model, the time for carrying out profound structural reforms in the crisis countries has been wasted. While Germany, beginning from 2003, has managed to carry out correction of the mistakes, and quite effective and successful at that, Greece, Spain, Ireland, Portugal, Italy have not taken the advantage of such opportunities for various reasons. Some of the ...