Are there precedents to the situation that Japan, Italy and Greece are in?

Discussion in 'Economics' started by Daal, Aug 3, 2018.

  1. piezoe

    piezoe

    I largely agree. I would not have chosen "artificial construct" to describe the Eurozone, but I'm not sure of a better word . Another problem as I see it, and as Soros sees it, is that the eurozone monitary union is incomplete. It lacks the Eurobond which would be necessary to have truely unified monetary zone. They don't seem quite ready to accept a Mississippi (Greece) suckling at California's (Germany's) Teat.

    We still can't get it through our heads that pre 1971 constraints are gone. And some governments are still trying to fix a failing economy with austerity. But of course that's an oversimplification. Japan is fine because of their productivity. Greece is not fine because of Germany. Brexit is a bad idea. The U.S. is fine until everyone else wakes up and realizes that the only reason now to keep the dollar as the reserve currency is because of tradition and inertia.
     
    Last edited: Aug 7, 2018
    #11     Aug 7, 2018