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Non-Tech : Tulipomania Blowoff Contest: Why and When will it end? -- Ignore unavailable to you. Want to Upgrade?

To: Hiram Walker who wrote (435)	1/1/1999 11:12:00 PM
From: Moominoid	Read Replies (1) \| Respond to of 3543

But the other thing is that countries cannot get out now That was exactly my point. Unless they want to set up a new central bank, a new currency and have the ill-will of their former partners against them for the next couple of decades at least. Pre depression the Federal government in the US had a very small economic role. It grew radically as a result of the depression. I am predicting exactly the same response to any similar crisis in Europe. As all the countries joining have pursued austerity programs (and resulting unemployment) to get into the Euro I think that for the first few years at least they will continue to be well disciplined in their pressure on the Central Bank in Frankfurt. David