Euro Crisis & Radical Party Votes - Gold Standard Bad?
Posted: Mon Apr 16, 2012 8:18 pmhttp://www.cnn.com/2012/04/16/opinion/f ... ?hpt=hp_t3
Interesting article on Euro crisis, but check out this statement:
To sustain the euro, the countries of southern Europe are cutting government expenditures and raising taxes in a futile effort to balance their budgets in the throes of a worsening recession. The euro is doing to Europe in the 2010s what the gold standard did to the United States in the 1930s: magnifying an ordinary downturn into a social catastrophe.
And this one:
The euro was a terrible mistake. It is failing now in exactly the way predicted by its critics: a credit boom followed by a depression. The present policy response offers the people of Europe no hope at all, opening a political opportunity for extremists and demagogues. On April 22, the voters of France will tell us just how large that political opportunity has grown.
Interesting article on Euro crisis, but check out this statement:
To sustain the euro, the countries of southern Europe are cutting government expenditures and raising taxes in a futile effort to balance their budgets in the throes of a worsening recession. The euro is doing to Europe in the 2010s what the gold standard did to the United States in the 1930s: magnifying an ordinary downturn into a social catastrophe.
And this one:
The euro was a terrible mistake. It is failing now in exactly the way predicted by its critics: a credit boom followed by a depression. The present policy response offers the people of Europe no hope at all, opening a political opportunity for extremists and demagogues. On April 22, the voters of France will tell us just how large that political opportunity has grown.