Euro must better defend itself

The finance ministers of the Eurozone met on Monday to discuss how to expand the euro bailout fund in such a way that countries like debt-stricken Italy can also be protected. They called above all for the crisis countries to economise. But precisely this is the wrong approach, the left-liberal daily Delo warns: "Austerity measures alone in times of weak growth will not be enough, especially not in countries that are already heading towards recession precisely because they have cut spending. This is why it is absolutely vital that the euro group strengthens its defence walls to protect the weakest members against the attacks of speculative capital. The fact that Italy has fallen out of favour on the stock exchanges is another warning sign that far from being over, the crisis of the euro is actually worsening."

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