Hemlock for economic students
(Putting effective demand in the long run and prices of production together)
Saturday, July 30, 2011
The End of the Euro
The Dean of the British economic journalists, Samuel Brittan, wrote an interesting column (subscription required) on the state of the euro. The arguments follow closely the book by Christian Saint-Etienne, La Fin de l'Euro. As I said in my radio interview recently, he thinks that the euro area will continue to muddle through for a long while, making the Greek people pay a terrible price, and that there are significant probabilities that the euro will not survive in the end.