60 – Matt Klein on Greece, Optimal Currency Areas, and Safe Assets
Macro Musings with David Beckworth
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The Eurozone Is a Fundamentally Flawed Currency Union
Is the Eurozone a fundamentally flawed currency union? That's a big question. I'm sometimes inclined to think that the answer is yes, that there's nothing that can be done to make it work in its current size and shape. If Germany and other Northern Europeans are not willing to do things that frankly would be in their own interest, then sooner or later they're going to break up. But it's possible that could change.
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