Legal tip 742. Did the Euro ever exist?
Wednesday, April 11, 2012 @ 10:04 AM
As the IMF has recently stated, economies with greater exposure to real estate bubble are deteriorating more severely and these economies need debt relief and restucturation as a general measure: for the whole social fabric, specially for families.
Economy for people: it is simple. Social aid to help domestic economies. Estate intervention is possibly necessary.
The IMF report mentions EEUU 1930 or Island 2011 as expamples where debt was written off for a fresh start of families.
European Finantial Authorities needs to make themselves liable of this all, as again, very rightly De Grauwe saw in 1998, before the Euro come.
Euro made the bubble in Spain specially big. We decidecly need Europe too to restore the effects of this burst. If not, it is possible that the European Monetary Union never existed really.... it was a fallacy.
.jpg)
"Alhaurin El Grande, Málaga, Spain, by i_yudai, at flickr.com