The European Union
During a debate at the University of Strasbourg, French President Nicholas Sarkozy suggested the Eurozone should consist of a federal core of the 17 members of the euro zone, with a looser confederal outer band of the ten non-euro members.
His remarks sparked speculation whether Europe’s leaders are considering a break-up of the Eurozone. Cato scholar and Johns Hopkins University Professor Steve H. Hanke discusses regime uncertainty and the chances of a Eurozone breakup.
