integration Archives - IREF Europe https://en.irefeurope.org/tag/integration/ Independent research and policy analysis on fiscal, monetary, and regulatory issues in Europe Sun, 23 Jan 2022 17:43:57 +0000 en-US hourly 1 https://wordpress.org/?v=7.1.2 https://en.irefeurope.org/wp-content/uploads/sites/3/2026/04/IREF-LinkedIn-Profile-DarkBlue-scaled.png integration Archives - IREF Europe https://en.irefeurope.org/tag/integration/ 32 32 The same euro mistake under a different name https://en.irefeurope.org/publications/online-articles/article/the-same-euro-mistake-under-a-different-name/?utm_source=rss&utm_medium=rss&utm_campaign=the-same-euro-mistake-under-a-different-name https://en.irefeurope.org/publications/online-articles/article/the-same-euro-mistake-under-a-different-name/#respond Tue, 02 Oct 2012 12:05:46 +0000 https://en.irefeurope.org/publications/online-articles/the-same-euro-mistake-under-a-different-name/ Despite being bombed by information, it seems we have forgotten the roots of the debt crisis. Instead we play a martingale game, where the only precaution after losing a round is to double the bet for the next one. The solution is not called EFSM, EFSF, ESM, SMP, OMT or banking union. These are just different names for a single problem: diluted responsibility. Unless we find a way to make local politicians pay locally for local promises, the euro project will be always in trouble.

The post The same euro mistake under a different name appeared first on IREF Europe.

]]> https://en.irefeurope.org/publications/online-articles/article/the-same-euro-mistake-under-a-different-name/feed/ 0