to refinancing credits 4.3 Target losses in the case of exit and bankruptcy, should the euro continue to exist 4.4 Target … losses in the case of a euro break-up or a German exit 4.5 Shift in growth forces due to free insurance coverage 4.6 The path …

countries are also endangered. Although the EU has tried to contain the euro crisis with extensive rescue operations that have … reconsidered. Yet the euro should not be given up. The euro itself is indispensible for Europe. During the financial crisis it has … necessary ingredient of further European integration. Nevertheless, Hans-Werner Sinn argues that the euro has not been as …