The Greek (Irish, Portugese, etc.) sovereign debt problem won't go away, but this week we focus on a different aspect of it: what it may mean for the future of the EU. The attached piece by Charlemagne from The Economist, suggests that however the crisis is resolved, it will necessarily push the EU monetary union to one of two outcomes: either nearly full integration (The US of E?) or disintegration. The other piece from the National Post, adds an element that it seems must be important in determining how the overall sovereign debt crisis is finally resolved. Depositors have been (slowly, so far) withdrawing funds from banks located in the EU countries that are in trouble.
