Friday, 3 June 2011

No Euro without fiscal union? - more muddled thinking by 'expert'

Another economics professor and former IMF economist, Harvard University's Ken Rogoff, adds his voice to the chorus of those who perpetuate the false thesis that only a closer (full?) fiscal (and therefore political) union of the EU member states can save the Euro. As we have explained in another post, this theory confounds the problems of individual states' reckless fiscal and economic policies with the problem of the global banking system.

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