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The design of the Euro, like the gold standard before it, encourages mercantilist inflation policies by allowing the mercantilists to externalise the unemployment caused by their irresponsible policy.

You can't design a system that favours irresponsible policy and then claim that the only problem is the stupidity of the people who implement that policy.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Thu Jun 2nd, 2011 at 10:59:53 AM EST
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