Milton Friedman Quotes About Euro

Quotes about: Euro

• Italy may well be the main problem. It has benefited most from the euro by having been able to get the euro interest rate instead of what otherwise would have been its own. That would be much higher because Italy has been accumulating so much debt. In the past, Italy has inflated away its debt. The virtue of the euro is that Italy can't do it alone. A tight ECB policy wouldn't permit that to happen again.

  Milton Friedman

  Past, Would Be, Debt

  Source: www.huffingtonpost.com

• Germany cannot get out of the euro. What it has to do, therefore, is make the economy more flexible - to eliminate the restrictions on prices, on wages and on employment; in short, the regulations that keep 10 percent of the German workforce unemployed.

  Milton Friedman

  Germany, Employment, Wages

  Source: www.huffingtonpost.com

• The euro is good for Europe. But only if there is flexibility all around.

  Milton Friedman

  Europe, Euro, Ifs

  Source: www.huffingtonpost.com

• Germany's problem, in part, is that it went into the euro at the wrong exchange rate that overvalued the deutsche mark.

  Milton Friedman

  Germany, Problem, Mark

  Source: www.huffingtonpost.com

• The euro is going to be a big source of problems, not a source of help.

  Milton Friedman

  Helping, Problem, Source

  Source: www.huffingtonpost.com

• The problem is that, in a world of floating exchange rates, as Italy was before the euro, if one country is subjected to a shock which requires it to cut wages, it cannot do so with a modern kind of control and regulation system. It is much easier to do it by letting the exchange rate change. Only one price has to change, instead of many.

  Milton Friedman

  Country, Cutting, Floating

  Source: www.huffingtonpost.com

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