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mk · 3545 days ago · link · · parent · post: Thomas Piketty on the Euro Zone: “We Have Created a Monster”
Fascinating interview. Europe seems to be on a collision course, and there are two solutions being proposed: 1) fiscal unity, and 2) monetary dissolution. I don't live in Europe, so it is difficult for me to gauge popular sentiment, but from over here, my guess is that the latter is the most likely outcome. That said, if Greece and perhaps a few other debt burdened countries exited the Euro, the remaining countries might give the monetary/fiscal mismatch system a go for another decade or two until the next crisis.