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Risk-free no more (part I)

My main objection against the euro stems from the realization (post fact I must admit) that the common currency has resulted in an increase of macro and systemic risks across the countries of the eurozone, despite the initial intention of eliminating currency risk and harmonizing monetary policies across the region. One risk that sharply increased in … Continue reading

The non-origins of the euro crisis

It seems that something has changed lately in the economy of the eurozone. No, I don’t mean that we now “see the end of the tunnel” as the political leadership of the eurozone would like us to believe. Besides, even if we were at the end of the tunnel that wouldn’t mean much if we … Continue reading