Stiglitz Says Stalling Euro Area Shows Dismal Failure – Bloomberg 08-20-14

Salient to Investors:

Joseph Stiglitz at Columbia said:

  • Euro-area austerity policies have been a dismal failure as growth grinds to a halt.
  • Monetary policy cannot substitute for fiscal union – construction of a European banking union is too slow. Mutualization of euro-area debt – rejected by Germany and others – would mean Europe could borrow as a whole at interest rates at US levels.

Read the full article at  http://www.bloomberg.com/news/2013-09-19/asset-bubbles-found-by-finnish-economist-inspired-by-grandfather.html

Click here to receive free and immediate email alerts of the latest forecasts.