“The future remains uncertain and so it should, for it is the canvas upon which we paint our desires. Thus always the human condition faces a beautifully empty canvas.”
Frank Herbert

Children 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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