Pierre-Henri d’Argenson: The Euro, a Monetary Utopia
d’Argenson, Pierre-Henri
Pierre-Henri d’Argenson: The Euro, a Monetary Utopia - 2013.
43
The Eurozone is not a stable or sustainable structure. Its implementation did not result in the initially sought-after economic convergence between its members. Instead, the advent of the single currency only strengthened domestic imbalances. Attempts to force convergence through coercive fiscal policy are also doomed to failure. Under these conditions, the return to a mix of national currencies seems like the best way out of the crisis.
Pierre-Henri d’Argenson: The Euro, a Monetary Utopia - 2013.
43
The Eurozone is not a stable or sustainable structure. Its implementation did not result in the initially sought-after economic convergence between its members. Instead, the advent of the single currency only strengthened domestic imbalances. Attempts to force convergence through coercive fiscal policy are also doomed to failure. Under these conditions, the return to a mix of national currencies seems like the best way out of the crisis.
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