EUOBSERVER / BRUSSELS - Nobel prize winner in economics, Joseph Stiglitz, says the financial crisis is forcing the EU to re-examine its cornerstone policy area - the single market. "The crisis has brought home a couple of fundamental questions for the single market concept of Europe that have not really been adequately discussed," said the star economist at a conference on banking regulation in Brussels on Monday (12 October). Joseph Stiglitz warned the financial crisis was testing the EU's single market Referring to the banking collapses in Ireland and Iceland late last year, Mr Stiglitz said financial regulation in one country clearly presented problems for depositors in other countries. "And we need to get a grasp on that," he said. But the former World Bank economist, turned critic of its sister organisation the International Monetary Fund, questioned whether Europe was now dealing with such economies correctly.
EUOBSERVER / BRUSSELS - Nobel prize winner in economics, Joseph Stiglitz, says the financial crisis is forcing the EU to re-examine its cornerstone policy area - the single market.
"The crisis has brought home a couple of fundamental questions for the single market concept of Europe that have not really been adequately discussed," said the star economist at a conference on banking regulation in Brussels on Monday (12 October).
Joseph Stiglitz warned the financial crisis was testing the EU's single market
Referring to the banking collapses in Ireland and Iceland late last year, Mr Stiglitz said financial regulation in one country clearly presented problems for depositors in other countries. "And we need to get a grasp on that," he said.
But the former World Bank economist, turned critic of its sister organisation the International Monetary Fund, questioned whether Europe was now dealing with such economies correctly.
You cannot have a single market and a monetary union without a fiscal and industrial policy.
[Europe.Is.Doomed™ Alert] indeed unless we toss neoliberal dogma overboard, something I don't think the EU is about to do any time soon. En un viejo país ineficiente, algo así como España entre dos guerras civiles, poseer una casa y poca hacienda y memoria ninguna. -- Gil de Biedma
