Tuesday, January 10, 2012

No monetary union without political union

But ... "It is an idea that I think in the end will backfire", argues Klamer. "If you centralise this power too much, then what we will see is a lack of dynamics, a lack of flexibility as we see right now because it takes forever to make these decisions. It takes forever to get it through all these different parliaments. And then it takes even longer to implement it".

It's been said before, many times ... but it needs repeating, again and again.