Sleepwalking into the Euro nightmare

Eurozone countries are still careering towards a financial and social 'nightmare' of their own making according to a leading academic speaking at Cambridge University on November 11. This is a nightmare that could have been prevented. But the real nightmare is yet to come. Jesper Jespersen Professor Jesper Jespersen, an economics expert and visiting overseas fellow at Churchill College, will use his lecture 'A European Nightmare: How could the economists be so wrong on the Euro?' to suggest Greece's need for another multi-billion bailout - and call for a fundamental shift in economic practice to prevent the break-up of the Eurozone as we know it today. Jespersen, who previously advised the Danish Parliament on monetary union policy, says that despite reports of limited growth and rising optimism in some quarters, recession, social unrest and political turmoil will only worsen while crushing austerity measures continue to bite in central and southern Europe. "This is a nightmare that could have been prevented. But the real nightmare is yet to come," said Jespersen.