Five minutes with Jacques Melitz: “The discontented members of the Eurozone should consider very seriously the creation of a second euro”

Since the height of the Eurozone crisis, a number of reforms have been pursued to stabilise the economic situation in states using the single currency. In an interview with EUROPP’s editor Stuart Brown, Jacques Melitz outlines why the Eurozone is still suffering from two key problems – the European Central Bank’s inability to engage in proper open market operations and the lack of joint-responsibility for the banking system. He argues that, given the inflexibility of Germany, the discontented Eurozone members should give serious consideration to the possibility of creating a ‘second euro’ as an alternative.