Bern, Switzerland - the cantons have extensive autonomy within the federal state (photo:dpa)

Economics: Is a common economic and financial policy the way to stabilise the eurozone?

Could Europe benefit from looking to Switzerland as an example to emulate and should it consider pursuing a policy of federalism to avert its looming crisis? asks GIS expert Professor Dr Christoph Schaltegger in this briefing.

THE eurozone has reached a critical point. For years, the sovereign debt of most of the eurozone countries has risen, regardless of the state of the economy.

The European Union has repeatedly criticised governments for failing to comply with the convergence criteria of a maximum deficit of 3 per cent of Gross Domestic Product and sovereign debt ceiling of 60 per cent. But the rules have not been rigorously en...

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Dr. Christoph Schaltegger
The consequences of the creation of a eurozone without first establishing an optimal currency area are now being felt
read more about it in the report
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