Saturday, June 6, 2015

Blair: 'Present GDP At Level Prior To World Wars'

Dan Hannan was a guest last week on the Dutch state TV "flagship" political talkshow "Buitenhof". Among other great truths and wonderful statements Dannan pointed out that we are in this recession (in Europe) because its leaders "won't admit they got it wrong on the single currency" (the euro).

That the euro would fail, was predictable and common sense. A economic union of unequals means inevitably that high performers are being held back to the benefit of low performers. A fast runner can run slower, but you can't make a slow runner run faster.