from The Daily Bell:
A Nobel Alternative to the Current Euro System … A new book by Nobel prize-winning economist Joseph Stiglitz suggests that the best way forward for the euro area is a “flexible euro,” a system of different currencies under the same name fluctuating within certain limits. It’s a new, ingenious riff on an idea that keeps popping up in discussions of the currency bloc’s future …-Bloomberg
Economist Joseph Stiglitz wants to save the euro by making it flexible. This is an interesting approach, in part because it shows us clearly how elite dominant themes interact with each other in complex ways.
The imposition of the euro itself was the proximate cause of Europe’s difficulties, but the EU’s problems are being exacerbated by powerful banking interests behind its initial founding.
Stiglitz’s arguments regarding the euro seem sensible enough, but at this point, the problems run a good deal deeper than the currency.
Stiglitz wants to preserve the EU and the euro by moving toward a “flexible euro” that would allow countries essentially to have the ability to customize the currency via rates and volume. “The value of the different euros would fluctuate, but within bounds that the policies of the euro zone itself would affect.”
The UK Express comments on Stiglitz’s proposal, HERE:
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