Euro

An Interview with Louis Pauly

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July 29, 2011

Was the current European crisis caused by a “lack of stability culture” or by the flawed architecture of the single currency system? Louis Pauly: Both. There is great lip service to former, especially in Germany, but even they let its banks operate with too much leverage, too little capital.  It’s not a new story. Based […]

An Interview with Brian Milner

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July 29, 2011

Was the current European crisis caused by a “lack of stability culture” or by the flawed architecture of the single-currency system? Brian Milner: Both, really. The competitive gap between the wealthier euro-zone members and Greece, Portugal, and probably Ireland was far too wide to be bridged by the flexibility of a single currency and the […]

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What future for the euro?

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July 5, 2011

A sovereign default seems increasingly probable for the bankrupt Greek state. Experts disagree about the consequences of such a scenario for the world economy. One thing seems certain: the future of the euro and of the European Union will be affected. The creation of a common currency for the European continent was an incredible success […]