Wednesday, April 4, 2012
Dr. Doom: The Euro Divorce
Arnab Das and Nouriel Roubini write today in the Financial Times a commentary suggesting that Euro members should get a divorce (they call it an “amicable divorce settlement”). The current policies will not work and the only solution is the break up of the Euro area to allow some of the economies in trouble get a boost from a depreciation of their (newly created) currencies.
The argument is not new but the article provides a blueprint of how it should be done, which makes the reading more interesting but, of course, it also opens up their argument to more criticism…. Among other things Das and Roubini want Portugal, Ireland, Italy, Greece and Spain to abandon the Euro….
Read more at http://wallstreetpit.com/90807-the-euro-divorce