Browsing FGV EESP - Escola de Economia de São Paulo by Title "Europe’s financial crisis: the Euro’s flawed design and the consequences of lack of a government banker"

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Europe’s financial crisis: the Euro’s flawed design and the consequences of lack of a government banker

Palley, Thomas I.
2012-03

This paper argues the euro zone requires a government banker that manages the bond market and helps finance country budget deficits. The euro solved Europe’s problem of exchange rate speculation by creating a unified ...