The making of ‘Euromess’

NY Times Commentary by Paul Krugman (February 14, 2010)

According to Krugman, individual nation-state competitiveness in the EU can now only be achieved through a slow, grinding process of deflation.

“…the fundamental problem was… the arrogant belief that Europe could make a single currency work…” 

http://www.nytimes.com/2010/02/15/opinion/15krugman.html

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