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At some point we might stop talking past each other, though that seems unlikely.

What seems clear is that what Jake and I (but not only us) view as structural, political and economic problems, don't seem like really existing problems to you at all. So it is pretty pointless discussing policy at any level. Before we can talk about solutions we'd better agree on what problems we're supposed to be solving.

But from my point of view, the problems that are there cannot actually be solved within the institutional framework the EU has constructed, with the economic conventional wisdom of the people in charge or likely to be in charge (which is, from the point of view of conventional wisdom, pretty much self-perpetuating regardless of who wins elections). The drive to austerity demonstrates this - it's the only politically and institutionally possible policy in the EU right now, and it is already having disastrous consequences.  

Something's got to give, and I'm not sure what it's going to be.

Economics is politics by other means

by Migeru (migeru at eurotrib dot com) on Sun Aug 14th, 2011 at 04:46:01 PM EST
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It would perhaps be a good start if you admit that there are some problems in this world not caused by an particular institution residing in Frankfurt am Main.

And this institution is the ECB, not the Bundesbank.

by IM on Sun Aug 14th, 2011 at 07:14:55 PM EST
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