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I would contend that the small size of the economy relative to the foreign cash inflows were capital in the inadequate monetary policy the country held fr so long.

You might find me At The Edge Of Time.
by Luis de Sousa (luis[dot]a[dot]de[dot]sousa[at]gmail[dot]com) on Tue Sep 9th, 2014 at 02:08:47 PM EST
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That is trivially solved by procuring, in the open market, foreign exchange to match domestic liabilities and essential imports.

Of course, if a state insists on running insane economic policy, then it will be better off in receivership.

But a state which insist on running insane policies would generally be better off not being sovereign in the first place.

Moreover, the propensity of right-wing governments toward insane policies is only a weak argument against voting for independence, but a very strong argument against voting for right-wing governments.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Tue Sep 9th, 2014 at 02:16:27 PM EST
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