By: Kudashkina Ekaterina, Interview with Dr. Spyros Economides of the London School of Economics. I think the basic problem with the Eurozone in general is that it is structurally bizarre because what the founders did - was created a single currency across 17 states which don’t have centralized political system. So we have no system of politically managing the policy of 17 countries that are members of the Eurozone. So it’s like having a government, central government in a
state which doesn’t have control over fiscal policy, have no control over raising taxes, spending money. So it has no control over what each individual country does, and that is a major flaw in the system.Professor, just what was the ultimate purpose of creating a Eurozone? Tags:
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Voice of Russia.
By: Kudashkina Ekaterina, Interview with Dr. Spyros Economides of the London School of Economics. I think the basic problem with the Eurozone in general is that it is structurally bizarre because what the founders did - was created a single currency across 17 states which don’t have centralized political system. So we have no system of politically managing the policy of 17 countries that are members of the Eurozone. So it’s like having a government, central government in a
