Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
What your consumer is prepared to pay depends on his income, which in turn depends on his government's employment, fiscal and currency policy.

If you want a currency union, you must be prepared to increase government deficits, increase employment and increase inflation until you do not run a current accounts surplus against other members of the currency union.

If you don't want to do that, then you don't want a currency union.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Wed Dec 14th, 2011 at 10:00:36 AM EST
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