In the Eurozone, the more things change the more they stay the same: structural adjustments remain elusive

Back in early July we saw the post-EU-summit euphoria quickly fade as the new initiatives discussed at the meeting stalled at the implementation stage (see discussion). It certainly feels as if so much has happened since then. But has it? Other than Draghi’s backstop to support short-term sovereign paper, what has really changed in terms of the union’s structure and other summit initiatives? Here is the latest on some of these efforts.

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