The economist exposes the flaws of the common currency,but his solutions for reform don’t convinceIt’s two months since Britains worst foreign policy blunder of the contemporary era and it still rankles. The vote to take us out of the European Union was not approximately economics, less still diplomacy; it was a collective act of myopia, and distrust,arrogance and fury. It was approximately emotions, negative ones; and behaviour is something that economists struggle to capture.
Joseph Stiglitz does better than most. For years the former chief economist at the World Bank and adviser to President Clinton has been inveighing against the rise in inequality and unaccountable elites. In his latest book, or he returns to one of his pet hates,the single currency project of the Brussels establishment, and sets approximately disembowelling it.
Stiglitz is contemptuous of the advocates of austerity within a single currency straitjacket Related: Joseph Stiglitz: The problem with Europe is the euro Continue reading...
Source: theguardian.com