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European Salon de News, Discussion et Klatsch - 1 March | 102 comments (102 topical, editorial, 0 hidden)
Re: Eurobonds coming soon to a Eurosystem near you (none / 0)
On second thought: this has nothing to do with Eurobonds. It is, in fact:

  1. The Greek "Escrow Account" by another name: EU Deficit countries would issue bonds secured by priority claims on tax revenues
  2. The reverse of Keynes' proposal at Bretton Woods: a proposal to pile interest penalties on current account deficits (Sinn does admit that the origin of the Target2 balances is persistent intra-EU current account imbalances) where Keynes proposed to charge interest on current account surpluses

Yee-haw!

There are three stories about the euro crisis: the Republican story, the German story, and the truth. -- Paul Krugman
by Carrie (migeru at eurotrib dot com) on Thu Mar 1st, 2012 at 04:33:13 AM EST
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European Salon de News, Discussion et Klatsch - 1 March | 102 comments (102 topical, 0 editorial, 0 hidden)
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