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Greece requires its own money for expansionary fiscal policy more than for less contractionary monetary policy.

The economic planning expected of US states does not include employer of last resort functions. That is a federal obligation. Since the federal level in the EU does not want to assume this function, and since Greece has no means by which it can force the EU to do so, Greece needs its own money.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Tue Feb 14th, 2012 at 05:54:33 PM EST
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