What will the euro zone become?

In a growing number of countries (Netherlands, Finland, Austria, Belgium, increasingly Germany, now Italy) we are now starting to see a rejection of any cooperation between the euro-zone countries. Where will this take the euro zone? The lack of coordination between fiscal (tax) policies and the lack of solidarity between the m make euro-zone countries autonomous and divergent, and therefore worsen the lack of capital mobility between them and the segmentation of their financial markets. So we should expect a ne w wave of divergence between euro-zone countries’ long-term interest rates, as it is very difficult for the ECB to prevent this divergence.