The English have always been ambiguous towards "the continent". It is, as any self-respecting English person will tell you, full of foreigners. And England’s Conservatives, particularly their more reactionary, chauvinistic rump, have always been anti-European Union. So, as the EU contemplates moving towards greater integration, it was not entirely surprising UK Prime Minister David Cameron […]
Tag Archives: Euro
The Germany that engaged in the successful 1973 float of the DM, now seems to be missing the main point of that decision. That monetary autonomy is valuable. Also odd is German backing of currency areas across very differing economies, in tandem with federal fiscal rules absent a federal government. Inflation and threats to currencies […]
Few economic challenges are as potentially destabilising as threats to currencies – or exchange rates. German history, including the rise of Hitler, was a shattering response to the hyperinflation that destroyed savings in the 1920s. Assets had been destroyed by a currency that in Nov 1923 traded at 67 billion to the US dollar. Inflation […]