Tom’s Reviews > Europe's Orphan: The Future of the Euro and the Politics of Debt > Status Update
Tom
is on page 43 of 331
Consider this thought experiment: if Greece had not been a member of the euro, would markets not have offered it cheap finance? Given how lenders were throwing money at American households with no income, or Icelandic banks with no investment record, it is hard to believe they would, uncharacteristically, have had qualms about lending to a European government with no continence.
— Dec 07, 2016 04:23PM
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Tom’s Previous Updates
Tom
is on page 215 of 331
We should not underestimate the eurozone leaders' ability to make things even worse, but the opportunities for improvement are much greater. The eurozone is much more likely to surprise positively than negatively.
— Dec 29, 2016 04:08PM
Tom
is on page 207 of 331
Alessandra Casella…pointed out that the problem of spillover effects from national fiscal policy was analogous to the economic problem of pollution. The efficient solution, she suggested, is analogous too: set the overall optimal fiscal deficit and issue 'tradable deficit permits' to the member countries.
— Dec 29, 2016 03:53PM
Tom
is on page 207 of 331
Alessandra Casella…pointed out that the problem of spillover effects from national fiscal policy was analogous to the economic problem of pollution. The efficient solution, she suggested, is analogous too: set the overall optimal fiscal deficit and issue 'tradable deficit permits' to the member countries.
— Dec 29, 2016 03:53PM
Tom
is on page 132 of 331
There was a time in much of Europe when generals (or worse) took it upon themselves to protect the national interest from dithering politicians. It is less bloody when central banks do it, but nearly as noxious to democracy.
— Dec 18, 2016 04:26AM
Tom
is on page 118 of 331
In 2011 an obscure accounting convention, from which the public had been mercifully shielded by the shroud of boredom that usually envelops such things, suddenly morphed into a powerful propaganda tool against the monetary union.
— Dec 17, 2016 09:51AM
Tom
is on page 91 of 331
It was Ireland’s peculiar misfortune to have enough rope to hang itself with and to be a member of a club where others expertly tied the knot.
— Dec 14, 2016 05:39AM
Tom
is on page 43 of 331
Consider this thought experiment: if Greece had not been a member of the euro, would markets not have offered it cheap finance? Given how lenders were throwing money at American households with no income, or Icelandic banks with no investment record, it is hard to believe they would, uncharacteristically, have had qualms about lending to a European government with no continence.
— Dec 07, 2016 04:23PM
