Financial Foot In Mouth » Euro

Hardly A Wim-Win On The Good Ship Euro

admin — Sun, 29 Apr 2012 17:50:56 +0000

The capacity for single monetary policy to adapt to changing circumstances has indeed been brought into sharper focus in the light of recent events. For instance, the effect of adjusting Spanish wages may not be so relevant when approximately one in every four workers cannot currently obtain employment.

Spain`s Foreign Minister told state radio last week: “This is like the Titanic. If there`s a sinking here, even the first-class passengers drown”

Given that the richest “passengers” within the EU have an unfortunate reputation for securing the best vantage points on holiday, it is hoped that they will be able to do something more than re-arrange the deckchairs on this particular journey.

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Nick Clegg – on the benefits of Euro membership

admin — Sat, 03 Mar 2012 16:41:52 +0000

It would be interesting to see what the worse export vehicle looked like (a Moskvitch?)

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Gerhard Schroder(on the euro)

admin — Tue, 07 Feb 2012 08:16:51 +0000

Views about the euro can understandably change over time, but it is hard to conceive of greater Damascene conversion than that displayed by Herr Schroder in opposition in March 1998, when he said:

“The euro is a sickly premature infant, the result of an over-hasty monetary union.”

Contrast this with the pronouncements of the newly-elected Chancellor Schroder on December 31 1998:

“Our future begins on January 1 1999. The euro is Europe`s key to the 21^st century. The era of solo national fiscal and economic policy is over.”

Hmm.

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