Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
The imbalance problem could have been solved with very simple 'right-wing' tools: applying the law - in that case bankruptcy laws and tax laws.

Private default is a very simple way to deal with intra-zone imbalances. But we 'saved' the banks (or rather, their senior unsecured lenders). Again, the scale of the transfers caused by that decisions are so huge as to overwhelm the materiality of any other policy discussion.

Wind power

by Jerome a Paris (etg@eurotrib.com) on Sat Mar 17th, 2012 at 06:49:36 PM EST
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