Frances Coppola – The ECB is irrelevant and the Euro is a failure
‘The Euro is a failed experiment. We should not waste any more effort trying to make it work. It is time to consign it to the dust of history.’
From Pieria. The issue of German banks and their involvement in the credit bubbles of Spain etc. has been well documented, but this piece takes a closer look of what and how.
So if the last sentence of the piece is
‘the political willingness in Brussels (and Berlin and Frankfurt) to cure the crisis is non-existent, and the views range from desire to keep starving the ill countries, to complete disregard for their fate.’
does that mean the eurocrisis will remain unresolved until German (and French and Dutch) banks are out of trouble? If there is only minimal accommodation at best to resolve the crisis this is a very depressing thought.
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Anwar Shaikh - Capitalism: Competition, Conflict, Crises (2016)
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