Jeremiah’s Reviews > Why Save the Bankers?: And Other Essays on Our Economic and Political Crisis > Status Update

the specific problem we face, and the main explanation for our troubles, is simply the fact that the Eurozone and the ECB were badly designed from the start; so it’s difficult—though not impossible—to rewrite the rules in the midst of a crisis.The basic error was to imagine that we could have a currency without a state, a central bank without a government, and a common monetary policy without a common fiscal policy.