Entries Tagged as 'Euro Debt Crisis'

The Man Who Invented the Euro

David Frum December 3rd, 2011 at 12:06 pm 8 Comments

The Telegraph today posts an interview of Jacques Delors by Charles Moore.

I ask the man who prides himself on being an architect of European Union whether he got it all wrong. Unhesitatingly, cheap he denies it. It is a fault in the execution, medical not of the architects, which he claimed to have pointed out in 1997 when the plans for introducing the euro finally came together. At the time, he says, the best of the eurosceptic economists, whom he refers to as “the Anglo-Saxons”, raised the simple objection that if you have an independent central bank, you must also have a state.

Mr Delors thinks “they had a point”, but the way round this problem was to insist on the economic bit of the union as much as the monetary. As well as creating a single currency, you also had to create common economic policies “founded on the co-operation of the member states”.

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Why the Euro Can’t Afford to Lose Italy

November 20th, 2011 at 1:16 am 11 Comments

No relationship in Europe is more complex or dangerous than the relationship between the EU and the Eurozone.

The EU contains 27 countries. Only 17 of them use the Euro.

The economic impact of the Euro on non-Euro countries is obvious. Now consider the political effect.

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