Quote of the Day | 0113
Even if this eventually works in the sense that internal devaluation has worked in the Baltics — that is, in the narrow sense that Europe’s troubled economies avoid default and devaluation — it will be an ugly process, leaving much of Europe deeply depressed for years to come. There will be political repercussions too, as the European public sees the continent’s institutions as being — depending on where they sit — either in the business of bailing out deadbeats or acting as agents of heartless bill collectors.
Paul Krugman, ‘The Road to Economic Crisis is Paved With Euros’
[x]#8164 fan donderdag 13 januari 2011 @ 21:28:57
