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Tuesday, August 23, 2016

Euro & Brexit

Promis, des photos de vacances viendront bientôt!
Joseph Stiglitz on the Euro:
The euro was flawed at birth. Even the best policymakers the world has ever seen could not have made it work. The eurozone’s structure imposed the kind of rigidity associated with the gold standard. The single currency took away its members’ most important mechanism for adjustment – the exchange rate – and the eurozone circumscribed monetary and fiscal policy.
Another Guardian article on Brexit:
But in other respects, Brexit has been a help. It has forced the government to take a long, hard look at the British economy – something that would not have happened without the shock administered by the referendum. It’s brought home the fact that most of Britain feels disconnected from the economic story peddled by successive governments..
Guardian dissing Euro and talking up Brexit, who'd a thunk it?

(Normal service should resume shortly...)

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