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Politics : View from the Center and Left
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To: Steve Lokness who wrote (174531)10/25/2011 10:55:32 AM
From: JohnM  Read Replies (1) of 541487
 
John; I don't think I missed the point of his column at all. I was commenting on his solution. Krugman's solution is to give up on the Euro and let each country as they falter print their way out of debt. Krugman pretends this would not be inflationary - which I flatly disagree with.

Actually, that's not Krugman's notion of a "solution", just his notion of the disaster toward which Europe is heading. And that it would be better to get there sooner rather than later.

His proposed solution is a European wide financial institution that would provide confidence for all that debt, that would have the effect of lowering the growing interest rates on Italian debt. As for whether that's a good solution or not so good, I don't have any serious thoughts. It sounds about right but the politics of it looked to be something beyond formidable.

And that's another point Krugman makes as well.
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