I have often referred to the macroeconomic illiteracy of the eurozone economic policy establishment. Equally, if not more irritating is the political and legal illiteracy of economists who deal with eurozone issues. This... more ››
The view of many euro opponents is that because the euro area has failed to establish fiscal discipline, the project is now doomed. There is no doubt that fiscal discipline has been lost, but that does not mean the problem can't... more ››
During the Cold War, we said there were two kinds of countries: developed countries like the western industrial democracies and Japan, and developing countries. The developed countries had reached the end of history; they had... more ››
Unless they can persuade the 500m or so citizens of the EU to feel more attachment to Europe and less to their nations, they may be unable to take the necessary steps to save the euro. more ››