Re: The curse of Europe

["Hugh Whinfrey" <econ@xxxxxxxxxxxx>]

Sven asks:

> > The real question is how do you keep 12-20
> > different governments fiscally responsible, to
> > each other at least, while avoiding a political
> > union and while promoting a high level of
> > confidence in the banknotes of their common
> > fiat currency.
>
> "Fiscally responsible"? Could you elaborate on that?

No. Actually - I can't. And it's not that I don't want to.
Trying to answer that is like slipping on a banana peel.
With infinite credit - overspending evidently isn't possible.

Great question, Sven - I've gained insight I feel is valuable
from it

Hugh

.