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But you're from Sweden, and Sweden is outside the Eurozone and small enough to have its surpluses diluted in the Eurozone, let alone the whole big world.
tens of millions of people stand to see their lives ruined because the bureaucrats at the ECB don't understand introductory economics -- Dean Baker
I'm not sure about that. It seems to be able to swallow US CA deficits without much trouble, and the US economy is of the same magnitude as that of the EZ.
Peak oil is not an energy crisis. It is a liquid fuel crisis.
The trouble is out there - and it's incoming. It can be solved, but it's going to take a huge political negotiation to do so - and may be a rough ride even with that level of leadership. With Merkozy levels of leadership, the prognosis isn't good.
The world is big.
The world also floats its currencies relative to the -Mark. It would be triviality itself to retaliate against a mercantilist drive towards surpluses with RoW.
Friends come and go. Enemies accumulate.
The many failures of the eurozone's crisis response policy have a common cause: the eurozone is a large closed economy. Each of its 17 members is small and open. The political leaders who run the eurozone have a small open economy mindset - every one of them, without exception. The economists they employ mostly use small, open economy models.
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