Egregious Euro

Economic growth in the European Union has consistently exceeded growth in the eurozone since the euro debuted on 1/1/99. The two most important reasons are a total loss of control over monetary policy and, maybe worse, since 2012 eurozone governments have been forbidden to run deficits greater than 3% of GDP, neutering fiscal policy. The eurozone now depends almost entirely for growth on exports to China and the USA.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.