Alain Frachon
Alain Frachon is the editorial director of French daily Le Monde. Before being assigned to his current post he worked as the newspaper’s correspondent in Washington and as its senior editor. He is the author of several books, which include L’Amérique des néoconservateurs (“ The Neoconservatives’ America,” published by the Librairie académique Perrin, November 2010).
Updated: 24 September 2010
There is a simple way to resolve the Eurozone crisis: the European Central Bank just has to state that it will be the lender of last resort for European states. But this solution, which has the support of many economists, is rejected by the ECB — a doctrinaire position, which a Le Monde columnist deplores. 
The euro is undoubtedly weakened by the Irish and Greek crises but, on international markets its value remains assured and it warrants being defended, argues French leader writer Alain Frachon from the daily newspaper Le Monde. 
As the EU fights a losing battle to finance its increasingly wide range of roles and responsibilities, member states reluctant to contribute to community institutions are being held to blame for an imminent cash flow crisis.