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

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

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.

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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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