However good or bad political unity would have been be for Europe, the Euro -- especially with an ECB that would or could not maintain an inflation target (and 2% was probably too low for the initial state of product and labor market integration) AND private investors that mistook the elimination of currency risk for the elimination of country risk -- was a mistake.
However good or bad political unity would have been be for Europe, the Euro -- especially with an ECB that would or could not maintain an inflation target (and 2% was probably too low for the initial state of product and labor market integration) AND private investors that mistook the elimination of currency risk for the elimination of country risk -- was a mistake.