To cut through the complexity and amidst fragile confidence and the “noise” of crisis management simple answers and “once-and-for-all solutions” seem attractive. Unfortunately, this kind of answer is an illusion. Because the crisis in the euro area is multifaceted.
Before I conclude let me offer you some words of wisdom from Marcus Tullius Cicero, a first century before Christ Roman philosopher: “As I approve of youth that has something of the old man in him, so I am no less pleased with an old man that has something of the youth.