Interesting thoughts from Arnold Kling on the Euro Crisis (which he believes is a misnomer). A snippet:
My view of the bailouts is that they are primarily to save French and German banks. All the talk about "saving the Euro" is a smokescreen.
I find it ironic to have an EU official warning about the collapse of democracy. The eurocracy is a very undemocratic organization, chronically in conflict with popular opinion. The bailouts are unpopular, and quite properly so. Any official who claims that that the bailouts should be undertaken in the name of democracy is a poseur.
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