Time to Constrain Government
The EU is currently providing a unique update to Lenin’s dictum that nothing so destabilizes a country as a run on its currency. But the fiscal problems that triggered the crisis are not limited to Greece – or even to the other countries on the eurozone’s periphery – and can be solved only by placing constitutional restrictions on legislators' budgeting authority.
https://prosyn.org/IARAnx9
PALO ALTO –The current financial crisis in Europe providesa unique update to Lenin’s dictum that nothing so destabilizes a country as a run on its currency. In today’s EU, nothing so destabilizes a currency union as a flight from a member’s sovereign debt.