{"id":23201,"date":"2010-12-01T02:44:18","date_gmt":"2010-12-01T02:44:18","guid":{"rendered":"http:\/\/127.0.0.1\/site\/2017\/2\/1985\/wsj_editorial-europes_single_debt_zone\/"},"modified":"2010-12-01T02:44:18","modified_gmt":"2010-12-01T02:44:18","slug":"wsj_editorial-europes_single_debt_zone","status":"publish","type":"post","link":"https:\/\/kendallharmon.net\/?p=23201","title":{"rendered":"WSJ Editorial&#8211;Europe&#39;s Single Debt Zone"},"content":{"rendered":"<p>European Union finance ministers agreed late Sunday on more than just an \u00e2\u201a\u00ac85 billion bailout for Ireland. They also turned the currency union into a de-facto debt union by choosing to turn May&#8217;s \u00e2\u201a\u00ac750 billion rescue fund into a permanent feature of the euro zone. What&#8217;s more, they promised that no sovereign creditor would face a haircut on their debt holdings until 2013, and that&#8217;s at the very earliest&#8230;.<\/p>\n<p>&#8230;.here is what the EU has done: In the name of combating speculation against the debt of euro-zone members, the EU has now insured all those speculators against loss for three years at least. Meanwhile, in creating a permanent crisis-management mechanism, the EU has succeeded only in making permanent crisis more likely.<\/p>\n<p><a href=\"http:\/\/online.wsj.com\/article\/SB10001424052748704584804575644440134459422.html\">Read it all<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>European Union finance ministers agreed late Sunday on more than just an \u00e2\u201a\u00ac85 billion bailout for Ireland. They also turned the currency union into a de-facto debt union by choosing to turn May&#8217;s \u00e2\u201a\u00ac750 billion rescue fund into a permanent<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/kendallharmon.net\/?p=23201\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":794,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[40,50,460,582,589,595,592,149,591,200,590,585,596],"tags":[],"class_list":["post-23201","post","type-post","status-publish","format-standard","hentry","category-economics-politics","category-international-news-commentary","category-european-sovereign-debt-crisis-of-2010","category-consumerconsumer-spending","category-corporationscorporate-life","category-credit-markets","category-currency-markets","category-economy","category-euro","category-europe","category-european-central-bank","category-the-banking-systemsector","category-the-credit-freeze-crisis-of-fall-2008the-recession-of-2007"],"_links":{"self":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/23201","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/users\/794"}],"replies":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=23201"}],"version-history":[{"count":0,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/23201\/revisions"}],"wp:attachment":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=23201"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=23201"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=23201"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}