Economic security

Upcoming votes could test the eurozone's stability again

A rapid-fire series of elections in Italy, the Netherlands and France plus Britain's upcoming move toward leaving the EU could buffet the 19-country monetary union — just as it is struggling to finally leave behind its troubles with slow growth and high debt.
Analysts say it will take more than one unexpected outcome to provoke a renewed eurozone crisis that goes beyond temporary market turbulence around the time of the votes.
But multiple surprises and falling dominoes cannot be ruled out.
That's especially true after the unexpected votes in Britain for Brexit and for Donald Trump in the United States on Nov. 8.
"Since the 9th of November, times have changed," said Carsten Brzeski, chief German economist at ING-DiBa bank.
"You can walk through all these political events one by one," he said. "I think each has the potential to derail the eurozone, to further disintegrate the eurozone, to maybe possibly even lead to a breakup of the eurozone — but only in the worst, worst-case scenario."