European Tribune - Comments - European Central Banks cut interest rates

European Central Banks cut interest rates | 10 comments (8 topical, 2 editorial, 0 hidden)

Well yes, it's a clear tenet of most analyses of the eurozone that in the long term this "zone of currency" and hence "zone of interest rates" needs to be matched with a "zone of economic governance/fiscal action" to make things work out.

However, for all the reasons we all know about, it's not an easy political project. And I wouldn't want to make plans to combat the incoming potential-depression contingent on solving the political problem of European governance.

Thus, for now I think we have to work through agreements between the individual governments...

by Metatone (metatone [a|t] gmail (dot) com) on Thu Nov 6th, 2008 at 11:21:27 AM EST
[ Parent ]

Re: Largely, yes (none / 0)

But at the moment the EU Commission is taking Ireland to account for breach the Stability pact and incurring a greater than 3% budget deficit. Is this not the exact reverse of what is actually required?

Vote McCain for war without gain

by Frank Schnittger (mail Frankschnittger at hot dotty communists) on Thu Nov 6th, 2008 at 12:06:03 PM EST
[ Parent ]

Re: Largely, yes (none / 0)

Yes.

by Metatone (metatone [a|t] gmail (dot) com) on Thu Nov 6th, 2008 at 12:55:33 PM EST
[ Parent ]

European Central Banks cut interest rates | 10 comments (8 topical, 2 editorial, 0 hidden)

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