Re:Devaluation is austerity done right
by pessimizer on Thursday June 14, 2012 @11:13AM
(#4111670)
Not more "fiscally responsible countries", just richer ones. Unless you're arguing that it is fiscally responsible to loan massive amounts of money to other countries to buy your exports. If I loan money to Bob the unemployed guy to buy a car from me, and it turns out that he can't pay me back on time, do I get to call myself fiscally responsible?
On the Euro: Either closer fiscal union or end it. If the member state's debt can't be backed by a proper central bank, it's just a mechanism for shipping wealth from the periphery to the core.
On the Euro: Either closer fiscal union or end it. If the member state's debt can't be backed by a proper central bank, it's just a mechanism for shipping wealth from the periphery to the core.