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2017-04-22

- Members of the single currency are forced to issue obligations in a currency none of them can print. Why not just call for a global gold standard?

If you like the euro, why not just call for a global gold standard?

Argentina and Korea at least had the option of breaking their pegs to the dollar and printing money to support their banks. Similarly, countries bound by the gold standard always had the option of de-linking and re-pegging. 

There is no comparably straightforward way to exit the strictures of the euro.

So, for those who believe the euro was a good idea at the time and remains a good idea for prospective members, why would you oppose restoring the classical gold standard? Why should the benefits of integration and price stability be limited to Europe?


Om man har en sedelpress går man inte i konkurs, skrev jag den  4 november 2011

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