Tuesday, June 19, 2012

Ramanan — Is Intra-Eurosystem Debt Unconstitutional?

There’s an interesting conversation between JKH and Marshall Auerback here on the constitutionality of TARGET2 balances of the NCBs of the Euro Area.
Read it at The Case for Concerted Action
Is Intra-Eurosystem Debt Unconstitutional?
by Ramanan

JKH's back ground is in finance. Marshall has a law degree and he is a global investment manager.


NeilW said...

Having said that the Eurozone rules are more like the 'Pirate Code' from the Pirates of the Caribbean.

Not so much rules as guidelines.

There is no law without enforcement. It's all down to who can say no, and whether they can make that decision stick.

JKH said...

off topic:

nice photo of Lavoie at your site, Ramanan


any fist fights break out at that particular session?


Tom Hickey said...

JKH: "nice photo of Lavoie at your site, Ramanan"

Agree. Thanks for posting, R. I had imagined him looking older.

Ramanan said...

No fist fights or fencing!

I confirmed with him what Wikipedia says about him - he has represented Canada in Olympics in Fencing.