In his article “The triumph and tragedy of the euro,” which appeared on these pages on Jan. 14, Paul Krugman discussed the political crisis wrought by the threatened implosion of Europe’s single currency, and examined the European Union’s options in how to resolve it. Mr. Silverberg joins the discussion.
Paul Krugman’s analysis of the euro crisis comprehensively puts into perspective why the euro zone countries now find themselves between a rock and a hard place. All the policy alternatives he analyzes seem to be highly unsatisfactory in one way or another. This is puzzling because the euro zone countries as a group were financially much healthier going into the crisis — and continue to remain so — than either Britain or the United States in terms of both current and accumulated government debt.… Seguir leyendo »