The Periphery Six of Europe must lobby for growth

The decisions the eurozone takes over the next year will determine its future structure, writes Tom Wright.

20th October, 2013

Ireland, Cyprus, Greece, Italy, Portugal, and Spain share a problem. With massive debt, no control over monetary policy, and no leeway for major fiscal stimulus, they appear headed for a lost decade of high unemployment and low GDP growth.

This may seem surprising at first glance. After all, the Irish economy recently returned to growth, Ireland appears on track to exit the bailout in December, and the government is promising a budget surplus by 2014....

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