Karl and Jeff discuss the current situation in Greece from Karl's perspective as a German. Old hostilities between the north and south in Europe are being inflamed, which calls into question the entire purpose of the Eurozone.
Would Greece be better off simply leaving the Euro and resurrecting the drachma? Would the less profligate Eurozone nations cheer this? And has the ECB failed as miserably as the US Fed in creating price stability?
Note: The views expressed on Mises.org are not necessarily those of the Mises Institute.
Karl-Friedrich Israel is an assistant professor in the department of economics and business at Western Catholic University in Angers, France. He is an organizing member of the Austrian Economics Meeting Europe and is a Mises Institute Research Fellow.