Mises Daily
Author:
Philipp Bagus
David Howden
Online Publish Date:
Hence, as a recommendation, they believe Iceland should look towards joining the European Monetary Union in order to gain a central bank credible as a lender of last resort. What they a spectacular blowup; are we to believe that the moral hazard guaranteed by the European Central Bank will be any less malign? Instead, we find that the solution is