How monetary unity kept a crisis at bay

• A poor region like Wales could have been the next Greece, but with London as a financial pillow, its weakening economy always has soft place to fall

By Landon Thomas Jr. / The Bulletin
January 28, 2012

BLAENAU FFESTINIOG, Wales —

This could have been Britain’s Greece.

For decades, Wales, like Greece, has been plagued by persistent deficits and uncompetitive industries.

Yet unlike Greece, which teeters on the edge of bankruptcy and faces a possible exit from the eurozone — the 17 European Union....

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