Transterrestrial Musings

1. 
   Martijn Meijering (@mmeijeri)

   February 26, 2013, 10:28 am | #

   I disagree. Having a single currency is what finally forced Spain to overhaul its labour laws to improve competitiveness. This in turn will force France to follow suit, no matter how much they will whine about it. Playing currency games is an obstacle to interstate commerce, and we need a common currency (or better yet, a free currency) to eliminate the local fiefdoms.

   • 
     McGehee

     February 26, 2013, 10:52 am | #

     You’re being far too optimistic. The political trajectories of the parasite countries in the Eurozone clearly shows that they would rather rot in a toilet fed by taxpayers elsewhere, than grow up and do right.

     Austerity is just another word for nothing left to spend. If they don’t accept it with the Euro, they’ll have to take it without.

     • 
       Martijn Meijering (@mmeijeri)

       February 26, 2013, 11:21 am | #

       Spain is showing great promise (exports are up, competitiveness is up, markets are being opened up, government is being downsized). Having a currency union is what finally caused the socialists to run out of other people’s money.

       Since I live there, I prefer to be optimistic.
2. 
   Thomas Matula

   February 26, 2013, 12:13 pm | #

   Maybe that is why Germany is repatriating its gold reserves.

   http://www.telegraph.co.uk/finance/personalfinance/investing/gold/9804444/Bundesbank-to-pull-gold-from-New-York-and-Paris-in-watershed-moment.html

   Bundesbank to pull gold from New York and Paris in watershed moment

   Germany’s Bundesbank is to repatriate gold reserves held abroad to tighten control and combat currency crises in the future, pulling a chunk of its holdings from New York and all its bullion from Paris.

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