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:|