Mises Daily
Author:
Jesús Huerta de Soto
Online Publish Date:
The book is extremely timely and shows how the interventionist setup of the European monetary system has led to disaster. The current sovereign-debt crisis is 2000s, credit was expanded especially in the periphery of the European Monetary Union such as in Ireland, Greece, Portugal, and Spain. Interest rates were reduced the single currency is a step in the right direction as it fixes exchange rates in Europe and thereby ends monetary nationalism and the chaos of flexible fiat exchange