Patrick Barron writes: Oh. You didn’t know that Switzerland was part of the European Monetary Union? You thought that the Swiss used their own currency, the Swiss franc? In a the ECB’s proposed policy by abandoning the currency peg. This shows the rest of Europe that at least one nation does not fear returning to full control of its
money creation , while combatting the presumed menace of deflation: The European Central Bank has announced its intention to create out of thin air over one cost of buying desired goods with our money incomes was decreasing... The EuropeanUnion’s problems are not caused by a lack of “aggregate demand” in the form of money
In the wake of the Paris attacks, Europe is being pulled in two directions at once. On the one hand is the rise of as the French state calls for even more aggressive foreign policy from its European allies in the name of security. In some ways, these two trends appear to be Countries Closing their Borders Even before the Paris attacks, the EuropeanUnion faced rising skepticism and opposition over its immigration policies. Writing
with it. If carried into the long term, this would have meant a de facto monetary union between the euro and the franc. Fortunately for most people however, the Swiss francs from the new round of money-supply inflation that is expected from the European Central Bank. Those who have their savings in euros are not so lucky. Those
Church accepted that they were validly married. Not until the 16th century did European states begin to require that marriages be performed under legal auspices. In part, this was an attempt to prevent unions between young adults whose parents opposed their match. In the American trial. In December 2003, in response to a letter from the American Civil Liberties Union, a Montgomery County, Pennsylvania, judge freed some one hundred prisoners who
Fund (dominated by the US which has the largest voting bloc, by far) has demanded Europe be more socialistic . The New York Times reports: The three options laid out have different operations, but they share an important feature: They involve other European countries giving Greece money without expecting to get it back. These deal. “Wait a minute,” you might say. “The I.M.F. isn’t calling for a fiscal union; it’s calling for debt relief.” But once a debt relief program becomes big
the July 5 “no” vote in Greece against the terms of the negotiated bailout, European elites swore they would no longer negotiate : [E]urozone officials shot down pointless election.” Indeed it is, and countries with small and poor economies in Europe should get used to it. As a net receiver of EU funds , Greece handed over intensified, Timothy Garton Ash in the Los Angeles Times contended that monetary union without political union is “tearing Europe apart.” Eduardo Porter opined in The
On the contrary, more easy money will cause even more harm. The best thing that Europe and Greece can do for itself right now is to confront some of the economic levels of productivity. This is followed by a recommendation that Greece leave the European Monetary Union and reinstate the drachma. The National Bank of Greece then would set a very
My advice for Greece and all of Europe in the wake of the Greek “no” vote : 1. Leave both the EuropeanUnion (EU) and the European Monetary Union (EMU). These are very flawed institutions.
all sides to brag about how they came together to save the Greek economy and the European Monetary Union. However, this deal is merely a Band-Aid, not a permanent fix to Greece’s in welfare spending, Greece’s military budget remains among the largest in the EuropeanUnion. Despite all the handwringing over how the phony sequestration cuts
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The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.