The Tragedy of the Euro

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• e Treaty of Rome in 1957 was the main achievement toward the classical liberal vision for Europe. The Treaty delivered four basic liberties: free circulation of goods, free offering of services, free movement of financial capital, and free migration. (查看原文)

  Della 2011-11-28 05:04:26

• With the ECB having been based on the model of the Bundesbank, high inflation countries inherited part of its prestige. The founding of the ECB was similar to an imaginary merger of the car makers Fiat and Daimler-Benz, where the Germans take over management and quality control. While the management majority is German, the Fiat’s plants are still in Italy. The costs of undoing the merger, however, are immense. While it is certainly good for Fiat, it is not so good for Mercedes itself. (查看原文)

  Della 2011-11-28 05:05:37

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