Is the “Great Dither” over? Can political centralization really proceed? here is Edward Harrison’s analysis for Credit Writedowns.
I am still skeptical. It seems more likely that some more time will be bought, and temporary hopes stimulated, until the next “last chance to save the euro”. The reason for being so wary of official discourse? It has been consistently false, and often deliberately so, over the past twenty years ... Remember the claims according to which the strong euro was good for growth and employment, that it would compel national inflation rates to converge, that it would protect national economies from economic and financial crises?
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