Wednesday May 25, 2022

Stiglitz: Europe must be solid, otherwise it is a matter of the euro

Europe must learn to help its members in times of crisis, otherwise the eurozone’s prospects for a common sense are pale. In a verbatim to his book Freefall (Voln pd), the former economist of the World Bank and Nobel laureate in economics Joseph Stiglitz used to do so.

“Eurozna needs better economic cooperation. Not one that only enforces conflicting rules, but one that works to ensure that when a country encounters very faint eyes, others will help them, ”said Stiglitz, literally, in the British Sunday Telegraph.

According to Stiglitz, Europe has created a solid fund to help new members in the European Union. However, U failed to create a solid fund to help the eurozone, where it is threatening. Without such a fund, he said, the future outlook for the euro is bleak.

Not everyone agrees with Stiglitz. analyst Mario Singh said on CNBC today that Stiglitz Jr. The euro will strengthen against the dollar, even if it can enter the seven-month maximum.

In the long run, however, Stiglitz is right and has given support to the steps taken by the US central bank to weaken the dollar.

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In his book, Stiglitz also mentions Spain, where, according to him, mon is only a difficult time, not speculators.

Unemployment, which is already at 20 percent, is likely to lead the country due to the implemented feeds. However, the tightening belt will also lead to a slowdown in economic growth. “Spain mon is entering a kind of spirly death in which Argentina found itself ten years ago,” Stiglitz warned.

“It wasn’t until Argentina’s growing exchange rate for the dollar that growth began and the deficit began to decline. The speculators did not pay attention to Spain, but that will only be a difficult time for me, “he added.

Economist Stiglitz won the Nobel Prize in 2001, when he predicted, among other things, that the dollar would face a period of steady decline. That came true. Stiglitz then subjected the criticism to coupon privatization in the Czech Republic.

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