Confusion in Euroland
Dimitri Papadimitriou and
L. Randall Wray
Economics One-Pager Archive from Levy Economics Institute
As the crisis in Europe spreads, policymakers trot out one inadequate proposal after another, all failing to address the core problem. The possibility of dissolution, whether complete or partial, is looking less and less farfetched. Alongside political obstacles to reform, there is a widespread failure to understand the nature of this crisis. And without seeing clearly, policymakers will continue to focus on the wrong solutions.
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