“The euro would really do its work when crises hit, Mundell explained. Removing a government's control over currency would prevent nasty little elected officials from using Keynesian monetary and fiscal juice to pull a nation out of recession”
<“It puts monetary policy out of the reach of politicians," he said. "[And] without fiscal policy, the only way nations can keep jobs is by the competitive reduction of rules on business."
He cited labor laws, environmental regulations and, of course, taxes>
“In the aftermath of 1992, Italian membership in monetary union seemed like a long shot.
- The UK, which also dropped out of the ERM in September 1992, never looked back. It embarked on the route of central bank independence with a floating exchange rate ...
Ve la ricordate la crescita forte dopo la cura Monti, la crescita forte dopo il bailin ... ecco, la crescita forte dopo il #lockdown è uguale alle precedenti
Infatti per Monti il #lockdown equivale alla Fornero