Comments on: The Euro at 10 http://www.outsidethebeltway.com/archives/the_euro_at_10/ Online Journal of Politics and Foreign Affairs Wed, 25 Nov 2009 23:36:07 -0600 http://wordpress.org/?v=2.8.5 hourly 1 By: kenny http://www.outsidethebeltway.com/archives/the_euro_at_10/comment-page-1/#comment-358399 kenny Wed, 07 May 2008 21:10:28 +0000 http://www.outsidethebeltway.com/archives/2008/05/the_euro_at_10/#comment-358399 I'm not quite sure why Walker seems to thinks that the role of the ECB is an 'encroachment' in the sense that this wasn't what italy and spain etc signed up for with the euro. It was made quite clear in the 90's that this is precisely how the Euro & the ECB would operate. The fact that it prevents italy from avoiding hard choices by simply devaluing its currency is a feature not a bug. I'm not quite sure why Walker seems to thinks that the role of the ECB is an 'encroachment' in the sense that this wasn't what italy and spain etc signed up for with the euro.

It was made quite clear in the 90's that this is precisely how the Euro & the ECB would operate.

The fact that it prevents italy from avoiding hard choices by simply devaluing its currency is a feature not a bug.

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