Meeting at Gödöllö in Hungary to consider the Portuguese request for assistance, EU ministers issued a statement on Friday saying: "Euro-area and EU financial support will be provided on the basis of a policy programme which will be supported by strict conditionality."
For "strict conditionality" read severe budget cuts. The disparity between the eurozone's need for sophisticated solutions and the provincialism of its political leaders (to say nothing of their economic illiteracy) becomes more painfully obvious by the day, so much so that one can rightly ask whether the euro will survive the year.
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