Saturday, May 25, 2013

Lafontaine, Flassbeck and Lapavitsas say the euro is over

Earlier this month Oskar Lafontaine, German Finance Minister in 1998-99 and leader of the Social Democrats before Schröder, asked for the break up of the euro. Now in a more substantive paper Heiner Flassbeck, Lafontaine's second in command in the Finance Ministry, and ex-head of the macro division at UNCTAD, together with Costas Lapavitsas, also suggests that the euro should be undone.

From their conclusion:
They don't think the acceleration of political unification would allow the crisis to subside rapidly enough, and eliminating the euro would be the best alternative, or so it seems. Whatever your views, this paper is a must read.


  1. If only Lapavitsas understood the ontology of money correctly.

  2. i'm reading it right now, and i think it's a very good paper


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