Former Governor of the BoE says the Euro crisis is deliberate

EPA/JUSTIN LANE

Mario Draghi (C), the President of the European Central Bank, talks with Lord Mervyn King (L), Professor of Economics and Law at New York University Stern School of Law, and William C. Dudley (R), President & CEO of the Federal Reserve Bank of New York, during an Economic Club of New York event in New York, New York, USA, 04 December 2015.

Lord King’s argument echoes conventional arguments of the late 1990s


The economic malaise of the Eurozone and particularly of Greece – that has eclipsed that of the United States in the 1930’s – is the direct result of deliberate policy by EU elites, said Lord Mervyn King. The former Governor of the Bank of England (2003-2013) made the claim in the presentation of his new book The End of Alchemy on Tuesday, March 1st.

Interest Rates trap 

Lord King’s main argument is that a common interest rate has triggered a loss of competitiveness along southern members ...


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