The euro should now be recognized as an experiment that failed…. The adverse economic consequences of the euro include the sovereign debt crises in several European countries, the fragile condition of major European banks, high levels of unemployment across the eurozone, and the large trade deficits that now plague most eurozone countries.
- Treasuries, TIPS, and Gold (Wonkish) [NYTimes.com]
- Fact-checking financial recessions [VOXeu.org]
- This Time is Different, Again? The United States Five Years after the Onset of Subprime [PDF on Ken Rogoff’s faculty page on harvard.edu; also, Bloomberg.com]
- How Dangerous is America’s Debt? [Time.com]
- Spain’s Death Spiral and the Hypocrisy of the Euro [Time.com]