£250,000 prize announced for plan to orderly wind down the euro
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Lord Wolfson, Chief Executive of Next, has launched an economics prize offering £250,000[^] to the person who comes up with the best plan for winding up the euro in an orderly way. In the Times, Lord Wolfson argues, “Currently there is only one plan: deeper fiscal integration that gives EU central authorities greater control over tax and spending in member states. But this does little to cure structural deficiencies in the eurozone…if the economic merits of deeper integration are questionable, political failure is a greater risk…So we need the world’s brightest economists to devise Plan B, by which the euro can be safely dismantled.” Go hive mind! Go!
Panic, Chaos, Destruction. My work here is done. Drink. Get drunk. Fall over - P O'H OK, I will win to day or my name isn't Ethel Crudacre! - DD Ethel Crudacre I cannot live by bread alone. Bacon and ketchup are needed as well. - Trollslayer Have a bit more patience with newbies. Of course some of them act dumb - they're often *students*, for heaven's sake - Terry Pratchett
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Lord Wolfson, Chief Executive of Next, has launched an economics prize offering £250,000[^] to the person who comes up with the best plan for winding up the euro in an orderly way. In the Times, Lord Wolfson argues, “Currently there is only one plan: deeper fiscal integration that gives EU central authorities greater control over tax and spending in member states. But this does little to cure structural deficiencies in the eurozone…if the economic merits of deeper integration are questionable, political failure is a greater risk…So we need the world’s brightest economists to devise Plan B, by which the euro can be safely dismantled.” Go hive mind! Go!
Panic, Chaos, Destruction. My work here is done. Drink. Get drunk. Fall over - P O'H OK, I will win to day or my name isn't Ethel Crudacre! - DD Ethel Crudacre I cannot live by bread alone. Bacon and ketchup are needed as well. - Trollslayer Have a bit more patience with newbies. Of course some of them act dumb - they're often *students*, for heaven's sake - Terry Pratchett
At last! Somebody admitting they've got no ******* clue to what they should be doing and still trying to find a solution.
'As programmers go, I'm fairly social. Which still means I'm a borderline sociopath by normal standards.' Jeff Atwood 'I'm French! Why do you think I've got this outrrrrageous accent?' Monty Python and the Holy Grail
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Lord Wolfson, Chief Executive of Next, has launched an economics prize offering £250,000[^] to the person who comes up with the best plan for winding up the euro in an orderly way. In the Times, Lord Wolfson argues, “Currently there is only one plan: deeper fiscal integration that gives EU central authorities greater control over tax and spending in member states. But this does little to cure structural deficiencies in the eurozone…if the economic merits of deeper integration are questionable, political failure is a greater risk…So we need the world’s brightest economists to devise Plan B, by which the euro can be safely dismantled.” Go hive mind! Go!
Panic, Chaos, Destruction. My work here is done. Drink. Get drunk. Fall over - P O'H OK, I will win to day or my name isn't Ethel Crudacre! - DD Ethel Crudacre I cannot live by bread alone. Bacon and ketchup are needed as well. - Trollslayer Have a bit more patience with newbies. Of course some of them act dumb - they're often *students*, for heaven's sake - Terry Pratchett
Heard the ex Greek Finance minister saying that if Greece deafults, inevitable, it will volntarially leave the euro, becuase currently, their society is being destroyed by austerity measures. Regardless of what Greece does, Italy and Spain now have more expensive borrowing due to a downgrade. This puts pressure on them. Are they going to leave the Euro too? Such a rot would be unstoppable. The alternative is to ignore current inflation, the UKs 5.5% is expetced to 'burn itself out' and return to about 2% next spring, and for the ECB to devalue the currency. The same as the Swiss have done, the UK and US.
============================== Nothing to say.
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Lord Wolfson, Chief Executive of Next, has launched an economics prize offering £250,000[^] to the person who comes up with the best plan for winding up the euro in an orderly way. In the Times, Lord Wolfson argues, “Currently there is only one plan: deeper fiscal integration that gives EU central authorities greater control over tax and spending in member states. But this does little to cure structural deficiencies in the eurozone…if the economic merits of deeper integration are questionable, political failure is a greater risk…So we need the world’s brightest economists to devise Plan B, by which the euro can be safely dismantled.” Go hive mind! Go!
Panic, Chaos, Destruction. My work here is done. Drink. Get drunk. Fall over - P O'H OK, I will win to day or my name isn't Ethel Crudacre! - DD Ethel Crudacre I cannot live by bread alone. Bacon and ketchup are needed as well. - Trollslayer Have a bit more patience with newbies. Of course some of them act dumb - they're often *students*, for heaven's sake - Terry Pratchett
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Lord Wolfson, Chief Executive of Next, has launched an economics prize offering £250,000[^] to the person who comes up with the best plan for winding up the euro in an orderly way. In the Times, Lord Wolfson argues, “Currently there is only one plan: deeper fiscal integration that gives EU central authorities greater control over tax and spending in member states. But this does little to cure structural deficiencies in the eurozone…if the economic merits of deeper integration are questionable, political failure is a greater risk…So we need the world’s brightest economists to devise Plan B, by which the euro can be safely dismantled.” Go hive mind! Go!
Panic, Chaos, Destruction. My work here is done. Drink. Get drunk. Fall over - P O'H OK, I will win to day or my name isn't Ethel Crudacre! - DD Ethel Crudacre I cannot live by bread alone. Bacon and ketchup are needed as well. - Trollslayer Have a bit more patience with newbies. Of course some of them act dumb - they're often *students*, for heaven's sake - Terry Pratchett
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Lord Wolfson, Chief Executive of Next, has launched an economics prize offering £250,000[^] to the person who comes up with the best plan for winding up the euro in an orderly way. In the Times, Lord Wolfson argues, “Currently there is only one plan: deeper fiscal integration that gives EU central authorities greater control over tax and spending in member states. But this does little to cure structural deficiencies in the eurozone…if the economic merits of deeper integration are questionable, political failure is a greater risk…So we need the world’s brightest economists to devise Plan B, by which the euro can be safely dismantled.” Go hive mind! Go!
Panic, Chaos, Destruction. My work here is done. Drink. Get drunk. Fall over - P O'H OK, I will win to day or my name isn't Ethel Crudacre! - DD Ethel Crudacre I cannot live by bread alone. Bacon and ketchup are needed as well. - Trollslayer Have a bit more patience with newbies. Of course some of them act dumb - they're often *students*, for heaven's sake - Terry Pratchett
Simply have each state issue a 1-for-1 local currency for the euro all on the same day at the same time. Then let the market determine, as before, the exchange rate between the currencies.
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