Summary
As the crisis in the Eurozone continues, Chris Bowlby examines what might eventually emerge and what that could mean for us.
When Analysis looked at the possibility of a Greek exit from the Euro back in February, the topic was regarded as "thinking the unthinkable". Not so now.
In this programme Chris Bowlby looks forward and asks if the Eurozone is headed for disintegration or, conversely, even closer political and economic union. What do either of those scenarios mean in practice and can the Eurozone survive? What are the implications for borders, cash movements and who controls the levers of power?
Interviewees include: Lord Peter Mandelson, David Marsh, Ulrike Guerot, Dani Rodrik, Paul Donovan, Brian Lucey and Aristotle Kallis.
Producer: John Murphy.
Transcript
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| 0:00.0 | Just before this BBC podcast gets underway, here's something you may not know. |
| 0:04.7 | My name's Linda Davies and I Commission Podcasts for BBC Sounds. |
| 0:08.5 | As you'd expect, at the BBC we make podcasts of the very highest quality featuring the most knowledgeable experts and genuinely engaging voices. |
| 0:18.0 | What you may not know is that the BBC makes podcasts about all kinds of things like pop stars, |
| 0:24.6 | poltergeist, cricket, and conspiracy theories and that's just a few examples. |
| 0:29.7 | If you'd like to discover something a little bit unexpected, find your next podcast over at BBC Sounds. |
| 0:36.2 | Thank you for downloading this podcast from the BBC. |
| 0:39.4 | For more information, please go to the Radio 4 website. In analysis this week, Chris Bulby looks at the scenarios |
| 0:46.4 | being imagined for the Eurozone and reveals how a radically different Europe is taking shape. |
| 0:53.0 | The Eurozone crisis has its public face, |
| 0:57.0 | summits with bold promises of action, knife-edge elections, |
| 1:00.0 | financial markets lurching up and down. |
| 1:02.0 | But behind all that out of view in thousands of private but urgent |
| 1:06.7 | conversations between policy makers, experts, people desperate to protect their cash or their political |
| 1:12.4 | dreams, very different questions are posed. |
| 1:16.0 | Where will it all end? |
| 1:17.3 | Will the euro break up chaotically or be saved? |
| 1:20.5 | Whatever happens now, could Europe be heading for change, most of us have never begun to imagine? |
| 1:26.0 | Five years down the road, I think we'll have a much smaller group of Eurozone members. |
| 1:30.0 | Including France and Germany, or a core around Germany of its closest financial |
| 1:35.2 | friends if you like the Dutch the Austrians and so on. I would say that's |
| 1:39.3 | 50-50 I would say 50% chance that it will be just the hardcore members and 50% chance that |
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