In an interview with SPIEGEL, Harvard economist Kenneth Rogoff, 58, says it was a mistake to bring all the southern European countries into the common currency. He also argues that Greece should be granted a “sabbatical” from the euro and that a United States of Europe may take shape far sooner than many believe.
Licia Ronzulli, Italy’s member of the European Parliament, voted Wednesday during a session in Strasbourg, France, with her daughter in her lap. (Vincent Kessler/Reuters)
The euro should now be recognized as an experiment that failed. This failure, which has come after just over a dozen years since the euro was introduced, in 1999, was not an accident or the result of bureaucratic mismanagement but rather the inevitable consequence of imposing a single currency on a very heterogeneous group of countries. The adverse economic consequences of the euro include the sovereign debt crises in several European countries, the fragile condition of major European banks, high levels of unemployment across the eurozone, and the large trade deficits that now plague most eurozone countries.
Tumbl-zine: Norway Attacks
After the success of our recent piece on Rupert Murdoch, we felt that we would try this again with breaking news. We don’t have a good name for this idea yet, so for now we’re going to call it a Tumbl-zine — a magazine article designed for Tumblr. We will update this story as the situation changes, so please come back to ShortFormBlog’s article for the latest updates. (Sources used include: Reuters, BBC, The Telegraph, MSNBC, The Guardian, The Wall Street Journal)
This SFB idea of magazine articles for Tumblr is a new level of wonderful. Looking forward to more of these popping up on my dash.