“He did not know why he chose this particular moment to emerge from hiding except that it fitted him into an acceptable flow of human movement.”
Frank Herbert

Heretics of Dune

Euro as “Creative Destruction”

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Can it be that the Greek (and Portugal and Spain and … ) crisis is inherently built into the design of the Eurozone?

“The euro would really do its work when crises hit … Removing a government’s control over currency would prevent nasty little elected officials from using Keynesian monetary and fiscal juice to pull a nation out of recession … It puts monetary policy out of the reach of politicians … [And] without fiscal policy, the only way nations can keep jobs is by the competitive reduction of rules on business”

from the Guardian: Robert Mundell, evil genius of the Euro

 

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