Stability Pact: the euro and its stability (Part 2)

Whether states go so far, as this time, it is questionable. To protect the U.S. financial industry is necessary to bail out the fiscally unsound States. It could happen with a credible sanction mechanism. “Credible” means, however, that the process is free from political and budgetary sinners. All else fails. One thing seems clear increasingly. Even a bailout would probably not a permanent solution because it only arouses the national feelings and contributes to the disintegration. In order to save the euro and its stability and sustaining, there are fiscal discipline its member countries no alternative.