Os monetaristas e as fezadas da irmandade europeia

Ted Noten, Eleven Women and 400 Daisies, 2011

«When the idea of a European Monetary Unification was initially discussed in the 1970s, a fierce debate broke out between the so-called “Economists” and the “Monetarists” over convergence conditions that should be required prior to monetary unification.

The Economists posited that deep-seated differences in wage and price behaviour and monetary and fiscal policies in different member countries should be removed prior to integration. Otherwise a single monetary policy could not fit all members.

The Monetarists said that prior convergence was not necessary, since these differences would be eliminated by the monetary union itself.»

Resultado:

Os países centrais foram emprestando dinheiro aos periféricos e a assimetria atingiu cerca de 3 triliões de euros (3 milhões de milhões de euros) entre os países europeus.

zazie & musaranho coxo