Papadimitriou, Dimitri B.; Wray, L. Randall - Levy Economics Institute - 2012
From the very start, the European Monetary Union (EMU) was set up to fail. The host of problems we are now witnessing, from the solvency crises on the periphery to the bank runs in Spain, Greece, and Italy, were built into the very structure of the EMU and its banking system. Policymakers have...