Global Macro Service > Research Briefings > Eurozone

Why the doomsayers will be proven wrong again

The coronavirus crisis is threatening the eurozone on several fronts, with a combination of economic, financial, and political challenges to its viability. But as prior crises demonstrate, underestimating the political will to preserve the euro project, as well as the costs of leaving the currency zone, have proven to be common mistakes. In fact, we think further gradual integration rather than disintegration is the more likely path ahead.

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