[ExI] Bottom-up currencies

[Mirco Romanato]

Il 11/03/2011 15.13, Eugen Leitl ha scritto:
> On Fri, Mar 11, 2011 at 09:46:08AM +0100, Giulio Prisco wrote:
>> If there were a referendum in my country I would vote for getting
>> out of the EU and the Euro.

> Yeah, it was Germany who profited most by far, though of course the
> people on the street don't see it that way (since very little of it
> trickled down to the bottom).

> The other partners got badly shafted. The only way to fix it would be
> to prune down EURoland to the barest essentials. Plus introducing
> second and third tier currencies, maybe.

Germany profited most from the Euro as much as it profited most from the
Deutsche Mark.
And other countries and their people were shafted badly by their
currencies as much they are by the Euro.

What the Euro changed is that Greece and the others could not use
inflation to rob their people.
The government were forced to use debts or cut spending to balance the
budget instead of the printing presses.

Economics Theory don't need to postulate rational actors.
And economy don't need them. But irrational actors are showed for the
fools they are more than often.

-- 
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*Mirco Romanato*




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