ANALYSIS, COMMENTS, THOUGHTS, AND OTHER OBSERVATIONS IN DR. SKOSPLES' NATIONAL INCOME AND BUSINESS CYCLES COURSE AT OHIO WESLEYAN UNIVERSITY
Saturday, February 20, 2010
Greek Crisis Fallout: Could the Euro's Days Be Numbered?
This article talks about how Greece's financial woes could eventually lead to the downfall of the Euro. It says that the European Union is more of a monetary union with little coordination among member countries in terms of taxation and budget. It also talks about how Greece needs to drastically cut government spending and increase taxes to reduce the budget deficit even if it is unpopular among taxpayers.
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Its interesting that the same general tactics needed to stop seignorage are required to reign in Greece's out of control economy.
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