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Loose monetary policy is really only a band-aid. What is needed is deeper integration and recycling of surpluses from some countries to those countries with deficits.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Thu Jun 27th, 2019 at 08:43:24 PM EST
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Yep - its like pushing on a string. But recycling of surpluses from surplus countries to deficit countries isn't going to happen to a significant degree while the main locus of power is at the nation state level. That's partly what Brexit (and other right wing nationalist movements) is a rebellion against - preventing a small part of the UK's surplus  being used to help deficit countries - even though the UK's overall economy is much enhanced by having access to deficit country markets...

Index of Frank's Diaries
by Frank Schnittger (mail Frankschnittger at hot male dotty communists) on Thu Jun 27th, 2019 at 10:24:11 PM EST
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