Three New Lessons of the Euro Crisis

Subramanian, Arvind.

While some observers argue that the key lesson of the eurozone’s baptism by fire  is that greater fiscal and banking integration are needed to sustain the  currency union, many economists pointed this out even before the euro’s  introduction in 1999. The real lessons of the euro crisis lie elsewhere – and  they are genuinely new and surprising.

Πηγή: Project Syndicate

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