The Euro Crisis’s New Clothes

Jul 24, 2020 Hans-Werner Sinn

The European Union’s new €750 billion recovery fund is intended to tackle crises such as collapsing manufacturing output in southern member states like Spain and Italy. But money cannot solve the problem of distorted relative goods prices within the eurozone.

https://www.project-syndicate.org/commentary/european-union-recovery-fund-will-not-make-italy-spain-competitive-by-hans-werner-sinn-2020-07?utm_source=Project+Syndicate+Newsletter&utm_campaign=4fe7730fde-covid_newsletter_30_07_2020&utm_medium=email&utm_term=0_73bad5b7d8-4fe7730fde-106440339&mc_cid=4fe7730fde&mc_eid=4ddf8a88ec