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- - Optimal Currency Area requires flexible labor mobility that is not in EU , only USA. Shambaugh
- - Currency devaluations return you fast to growth , internal rigid price devaluations are unsuccessful.
- - So the EURO is in danger. Currency Acount deficits of south europe for years cannot be balanced by reducing prices but only own currency.
- - Ireland , Greece in EURO currency suffers severe crises , Iceland devaluates their currency , the crisis is mild and short. Italy is also ready to leave EURO
- - Shambaugh. The EU sovereign , banking, growth crises are interlinked
- - attempts at fiscal austerity to relieve the problems are slowing growth. without growth the sovereign debt crisis will persist.
- - troubles for the banks could bankrupt certain sovereigns, supporting the banks , and failure of these banks could lead to a broken credit channel to stop growth.
- - the sovereign debt are so large that if Greece, Ireland, Italy, Portugal, and Spain cannot pay, the banking system is insol-
- - Ask Ursula Leyen if she is going to continue with mind control of politicians and business man in EU and CEE for control of economy
- - Ask Ursula Leyen if she will follow force minister Manuel Valls who was responsible for the death of some 2000 people in France and Belgium to unite France against civil war. He resigned with my questions.
- - Ask Christine Lagarde what are the intentions of the people behing FED and ECB to put for heads without PhD even without a single course in Economics
- - Ask Christine Lagarde if with Drag hi , Yelllen , Carney , Fisher , Moskivici they employed Dayton to black mail me for half a trillion from EU sovereign fund
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