This currency crisis story might have some relation to the current debate between Marc Lavoie and Sergio Cesaratto on whether the European crisis should be seen as a a monetary sovereignty problem (Marc) or balance of payments crisis (Sergio). Both would agree that the crisis is not the result of fiscal problems, as described above.....Naked Keynesianism
More on currency crises and the euro crisis
Matias Vernengo | Associate Professor of Economics, Bucknell University
