The Questions?-Unanswered

Joseph Schumpeter, the great Austrian economist, once wrote: “The monetary system of a people reflects everything that the nation wants, does, suffers, is
The Euro won’t be safe until the Europe answers some fundamental questions. The future of Euro will depend upon the choice made by ECB in the coming months. EU has repeatedly failed to put forth a euro rescue plan and the last one fell just one stop short. The one good thing with Europe is that it is still in a better shape as compared to the US, in terms of debt. Europe’s ‘deep pocket’ countries must come forward to help the governments of PIIGS countries. ECB has not yet made it clear in the market that they are willing to step in and as the Economist is arguing that ECB should buy the debt in unlimited quantities on the secondary market. Other thing is that the Europeans are at odds over what the crisis is really about, and riven by disagreement over what each country must contribute towards solving it


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