Wise Words

I don\’t want to join the euro for the simple reason that I\’m an economist – and I understand the single currency to be a dangerous and inherently unstable system.

2 thoughts on “Wise Words”

  1. Halligan says:

    … the euro to rise, which sent the dollar crashing….in turn, sent oil spiralling (as crude is priced in greenbacks) all the way to $139 a barrel. That, of course, raises Europe’s energy costs

    Surely an economist could see the flaw in this argument?

    Tim adds: As you could, I can see a mild rewrite that makes it make sense….”sent oil spiralling in dollars but not euros (as crude is priced in greenbacks)”

  2. But it’s the ‘that of course raises Europe’s energy costs’ that is the logical leap of death.

    Tim adds: Indeed it is…

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