European monetary union and free movement of peoples from impoverished East to the rich West will (Chancellor Kohl) wanted a rapid timetable for expanding the EU into Eastern Europe but a long staged timetable for European Monetary Union. In Paris the
The ECB’s increasingly shrill mantra that it makes policy for the monetary union as a whole and not for its largest member (Germany) could well cause a black Chancellor Merkel, the modern-day Metternich, fighting desperately to sustain the European status quo, apparently does not hear or see any of the alarm signals. These
Listen to the Audio Mises Wire version of this article. The emergence of the European Recovery Plan, taking final form during marathon negotiations in Brussels of monetary repression, are chasing yet another dubious narrative, this time about Europe, even though key storytellers have an obvious interest in captivating a wide steeped in a history of gaining big fees from the process of European monetary union over the past quarter century, is telling us that the “giant
paper. Saving the euro from high inflation must go along with saving the monetary union from break-up (fragmentation risk). The launch of the new instrument and its likely use means “saving the euro” will drain not bolster confidence in the European money. Historians will not overlook the irony of this new likely giant step
revulsion (as for example after the Civil War) — was inflation snuffed out. In the European context this meant the end of the brief hard-Deutsche-mark (DM) era and the the balance of political power inside Germany in favor of the European Monetary Union (EMU) project. The big exporting companies, the backbone of the ruling in late 1998, it was ex-Bundesbank official, Professor Otmar Issing, who steered Europe towards adopting the new 2 percent standard. German monetary exceptionalism
prepares her exit from the chancellery in Berlin, a false alarm is ringing in Europe about an imminent danger of “stagflation.” This phenomenon, like dragons, inflation accompanying real economic sluggishness. Fast-forward to the present: European CPI inflation has been climbing through the year (3 percent year on year in of the ECB-Berlin axis in sustaining the status quo of the European Monetary Union (EMU), succeeded in removing the euro as a topic of debate between the
then the launch of similar and in some ways more radical monetary experiments in Europe and Japan have fuelled big devaluations of the euro and the yen. Meanwhile a have made indignant responses to Trump’s sound bites, pretending that the ECB (European Central Bank) and BoJ (Bank of Japan) respectively are institutions Merkel in the defence of the European status quo (including European Monetary Union [EMU] in its present form) has backed ECB chief Draghi pursuing policies of
monetary comedy he created, the scene shifts to Frankfurt. The star of Act II is European Central Bank (ECB) chief Mario Draghi. As we pick up the story, Mr. Draghi investors in their search for yield have been chasing any half-plausible story. Europe with its onetime array of high-yielding markets has been fertile ground for into the veins of the European economy, though bolstering the European Monetary Union (EMU) in the short-term, could be fatal in the longer term. That is no laughing
previous histories in office, all have a keen interest in the maintenance of the European status quo. According to many financial market commentators, a challenge to history going all the way back to the existential crises for the European Monetary Union in the years 2010–2013 when Washington pressured Berlin to back the bail-out worldwide to escape the regulatory and tax environments onshore in the US and Europe. London’s sponsorship of offshore markets won widespread recognition in the
US dollar. In reality, though, the long-run inflation threat level is higher in Europe than the US. Any substantial European remedial action sufficient to arrest in the future a threatened emergence of EU laws against state aid would impede action. A Green-CDU (Christian Democratic Union) coalition in Berlin such as is likely to emerge from this autumn’s elections
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