Europe’s Abysmal Crisis Management

July 4 (Bloomberg) -- I don’t share financial markets’ enthusiasm for the European Union’s latest moves to stabilize the euro area, and I don’t expect the thrill to last long. Sure, last week’s summit made some progress: It wasn’t quite stasis as usual. Yet one thing hasn’t changed: EU governments keep making the same basic error.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.