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Internal capital controls would be one way. In their absence, you could have had explicit recycling of surplus.

The point is the Euro could not work as designed and is blowing up after encoutering its first (perhaps externally triggered) crisis.

tens of millions of people stand to see their lives ruined because the bureaucrats at the ECB don't understand introductory economics -- Dean Baker

by Migeru (migeru at eurotrib dot com) on Wed Dec 14th, 2011 at 06:29:26 AM EST
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