The Prescience of David Laidler

Though it’s not quite the same issue, and though I’m an outsider who may be missing something, it’s considerations like this that make me still rather uneasy about the future of the Euro. A common currency is more than just a limiting case of a fixed exchange rate, of course, but I really do wonder whether European institutions are well enough developed to manage the politics of monetary policy, and particularly its interaction with fiscal policy, within the Euro system.

That is David Laider in an interview from his festschrift.

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