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I congratulate the outgoing Nigeria President Mr Goodluck Jonathan for his grace in conceding defeat.

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Barry Eichengreen

Across the continent, political divisions are deepening. For all of these reasons, the specter of a euro zone collapse has not been dispatched.

Collapse, Deepening, Division, Political, Reason, Specter
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The consequences of a collapse would not be pretty. Whichever country precipitated it - Germany by threatening to abandon the euro, or Greece or Spain by actually doing so - would trigger economic chaos and incur its neighbours' wrath.

Country, Germany, Pretty, Spain, Wrath

More than the Big Mac, Coca Cola, or Levi's 501 jeans, the dollar is surely the United States' signature export.

501, Coca, Jeans, Signatures, United, United States

The 1992 crisis proved that the existing system was unstable. Not moving forward to the euro would have set up Europe for even more disruptive crises.

Crises, Europe, Moving, Unstable

Southern Europe has not done enough to enhance its competitiveness, while northern Europe has not done enough to boost demand. Debt burdens remain crushing, and Europe's economy remains unable to grow.

Crush, Done, Enough, Europe, Southern, Unable

Political union means transferring the prerogatives of national legislatures to the European parliament, which would then decide how to structure Europe's fiscal, banking, and monetary union.

Banking, Europe, European, Mean, Political
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