Good Martin Sandbu piece, citing Josep Borrell, the EU's high representative for foreign affairs, as wanting the project to boost the euro’s status to be treated on a par with defense policy.
But Borrell and the other “European leaders” to whom this article refers are largely...
But Borrell and the other “European leaders” to whom this article refers are largely...
...clueless on the topic and probably should be kept as far away from interfering in the currency as possible. They seem to think that use of the dollar or the euro as an international currency is like the visibility of the flag: the more vigorously you wave it, the more...
...people will notice it. They clearly do not understand that the wide-spread use of the dollar (or of sterling, for that matter) rests partly on the depth, flexibility and openness of US capital markets and mainly on its willingness to absorb excess global savings and act as...
...global consumer of last resort for excess production elsewhere.
Until they resolve and substantially reverse the world’s largest savings glut and the world’s largest trade surplus, which Europeans (i.e. Germans) refuse to do, their hopes for the euro are dumb. The world...
Until they resolve and substantially reverse the world’s largest savings glut and the world’s largest trade surplus, which Europeans (i.e. Germans) refuse to do, their hopes for the euro are dumb. The world...
...needs more consumption, not more savings.
In fact if Washington were ever to impose taxes on foreign capital inflows, and so reduce foreign inflows along with foreign use of the dollar (as it should and probably eventually will), these same “European leaders” almost...
In fact if Washington were ever to impose taxes on foreign capital inflows, and so reduce foreign inflows along with foreign use of the dollar (as it should and probably eventually will), these same “European leaders” almost...
...certainly would excoriate the US for abandoning its responsibilities as underwriter of the global trade and capital regime and forcing onto the euro a greater (and very unwanted) role.
