A rift that never healed: how old divisions are undermining the Eurozone’s future

Europe’s political leaders are deeply divided over how to manage the economic consequences of the Covid-19 outbreak. Dimitris Katsikas writes that without a sizeable common funding mechanism, the danger is that European economies will be on very different fiscal and macroeconomic trajectories once the health crisis is over. However, the correction of these imbalances would come at a high economic and political cost, and further divisions between states could ultimately put the future of the Eurozone at risk.