Euro Zone Crisis

Dear friends and colleagues,

The European Monetary Union reaches a critical stage but politicians are still unable to find a way out.

Only a very few observers, and I should mention the FT`s Martin Wolf, have identified the economic policy model of Germany (the competition of nations) as the factor most responsible for the crisis. This is the object of the following discussion.
INET, the institute for new economic thinking has put together a group of economists, called the "Council on the Eurozone crisis"
This group has presented a report called "Breaking the Deadlock"
I criticized this report in the German FT

and my critique was translated by some young scholars of INET into english
( Text on this website).
Robert Johnson, the director of INET responded in his blog to my criticism
and I responded to him:

Enjoy reading