Euro Zone Crisis
Dear friends and colleagues,
The European Monetary Union reaches a critical stage but politicians are still unable to find a way out. Only a very few observers, and I should mention the FT`s Martin Wolf, have identified the economic policy model of Germany (the competition of nations) as the factor most responsible for the crisis. This is the object of the following discussion. |
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INET, the institute for new economic thinking has put together a group of economists, called the "Council on the Eurozone crisis" | ||
(http://ineteconomics.org/council-euro-zone-crisis) | ||
This group has presented a report called "Breaking the Deadlock" | ||
(http://ineteconomics.org/council-euro-zone-crisis/statement). | ||
I criticized this report in the German FT | ||
(http://www.ftd.de/politik/konjunktur/:oekonom-flassbeck-zur-euro-krise-die-niedrigen-loehne-sind-schuld-an-der-krise/70070469.html) | ||
and my critique was translated by some young scholars of INET into english | ||
( Text on this website). | ||
Robert Johnson, the director of INET responded in his blog to my criticism | ||
(http://ineteconomics.org/blog/inet/sleepwalking-heiner) | ||
and I responded to him: | ||
(http://ineteconomics.org/blog/inet/heart-euro-problem-response-inets-rob-johnson) | ||
Enjoy reading