Five minutes with Philippe Legrain: “The Eurozone has become a glorified debtors’ prison”

With no lasting solution yet found for dealing with Greek debt, and economies in the Eurozone continuing to suffer from weak growth, how can Europe finally solve the problems brought on by the financial crisis? In an interview with EUROPP’s editor Stuart Brown, Philippe Legrain discusses the policy failures at the root of the crisis, the need to stimulate demand in Eurozone economies, and why the German focus on cutting wages to improve competitiveness is simply exacerbating existing problems.