Econintersect: Former IMF economist Elliott Morss, who contributes to Global Economic Intersection weekly, has had a feature article published by the leading German news provider Deutsche Welle. The article, Europe vs. the IMF: Austerity vs growth appeared Wednesday, 08 May 2013. The article highlights the special problems presented to the Eurozone because it’s countries are individually sovereign fiscally but have each surrendered monetary sovereignty to the EU-17.
Morss wrote that the lack of monetary sovereignty has removed the ability of the “weak sisters” (the Mediterranean countries plus Ireland, for now) to effectively adjust their economies through currency devaluation to establish competitive parity with the so-called core countries in northern Europe.
An article by Elliott Morss which covered some of the points in the Deutsche Welle article, and also covered issues related to China, was published by GEI Analysis yesterday.
