Peter Baldwin: Europe's Long Road To Economic Ruin
Peter Baldwin is a professor of history at UCLA.
The economic crisis in Europe reached its latest crescendo last night, as Greece managed, through furious last-minute negotiations, to convince its creditors to give it some more breathing room. But if the Greeks have managed to stake off ruin for a few more minutes, nothing has essentially changed in their situation: Their economy is still in shambles.
The burning question on most observers' minds, and rightfully so, is whether the Greeks will ever manage to pay back their debts. But at this stage, it's also worth considering how we ended up on the precipice of such catastrophe at all. Here are some reflections on the long road to our present disaster — and the possible paths out of it.
The economies of Europe are vastly divergent. The EU is much more variegated than commonly realized. It spans enormous economic disparities — great enough to cause problems for its functioning as a monetary union....
comments powered by Disqus
- MLK's daughter to give court her dad's Bible, Nobel Prize
- China says no room for compromise with Japan on history, territory
- 800-year-old monk found poking out of cliff face
- Elite private school forced to apologize to students after serving special Black History Month menu of fried chicken and collard greens
- Khrushchev’s son: Giving Crimea back to Russia not an option
- Rutgers historian Rudy Bell leads protest against Condoleezza Rice speaking at commencement
- Islamic history scholar Michael Cook wins Holberg Prize
- Prolific Alaskan Historian, Author, UAF Professor Claus-M. Naske Passes at Age 78
- Historian Fernando Prado on quest to find remains of Cervantes
- Historian shines a light on the dark heart of Australia's nationhood