Abstract

Financial analysts and experts alike are looking for signs announcing that the crisis is over. Something is changing, but not in Europe, which most observers believe will be the last to leave the crisis behind, with slow growth rates for a long time to come. One of the reasons is that unresolved contradictions surface during a crisis, such as the rigid economies of the leading European countries, and the euro, a technically successful currency. The European Central Bank has an irksome task managing the monetary policy of so many different economies (with different growth rates) and a single interest rate for both slow and fast economies.