17 November 2011

An interesting view on Eurozone crisis resolution

I read a very alternative perspective on how the Eurozone crisis may be overcome by exiting the Euro and immediately rejoining by devaluing the new exchange rate. It is a quiet smart policy recommendation and at least to the extent i am aware, completely new. It offers a both politically and economically viable solution to the lack of monetary independence of the Euro indebted countries.

The full article with the analysis of the proposed mechanism by Julian Le Grand might be found here. It's worth a reading.