Alexander Hamilton’s Eurozone Tour
For many Europeans, Alexander Hamilton’s negotiation in 1790 of the new US federal government’s assumption of the states’ large debts like a tempting model. But, as Hamilton knew well – and as subsequent US history showed – debt mutualization by itself could not guarantee political union.
https://prosyn.org/91wiiIB
PRINCETON – Europe’s debt crisis has piqued Europeans’ interest in American precedents for federal finance. For many, Alexander Hamilton has become a contemporary hero. Perhaps one day his face should appear on the €10 banknote.