The battle to save the euro turns on

Because they are in a monetary union, they can’t take the

As Europe’s leaders meet for their two-day summit in

So how much has all the activity achieved? To get a better picture, we built a model to assess the solvency of euro-area governments.

Fiscal Challenges

One way to judge a sovereign’s finances is to compare its current fiscal challenges to what it has achieved in the past.

The results are both encouraging and daunting. Crucially,

Now for the daunting part. While financial health may be

Mutual Support

Spain’s difficulties demonstrate why Europe’s leaders must

Europe also needs to move quickly on other risk-sharing mechanisms, such as the banking union that leaders agreed to in

Three years after the first rumblings of sovereign-debt

To contact the senior editor responsible for Bloomberg View’s editorials: David Shipley at