An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
Useless article. Flassbeck blames Schauble for all the ills of Europe but doesn't tell us what the solution is apart from F's suggestion that Germany's external surplus should have been reined in. But how do you do that? Export taxes? Probably not allowed under EZ rules.
As I think Bill Mitchell has explained, the problems of the EZ stem from the basic nature of a common currency. A common currency works in the US because people in the US are more willing to travel from depressed regions to where there are jobs than they are in Europe.
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Useless article. Flassbeck blames Schauble for all the ills of Europe but doesn't tell us what the solution is apart from F's suggestion that Germany's external surplus should have been reined in. But how do you do that? Export taxes? Probably not allowed under EZ rules.
As I think Bill Mitchell has explained, the problems of the EZ stem from the basic nature of a common currency. A common currency works in the US because people in the US are more willing to travel from depressed regions to where there are jobs than they are in Europe.
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