20 Nov '12, 7pm

Move over bitcoin: How the electronic deutsche mark can save Europe

Move over bitcoin: How the electronic deutsche mark can save Europe

Among the many worries Ben Bernanke listed in his speech at the New York Economic Club today is the continued danger of a meltdown in Europe: The elevated levels of stress in European economies and uncertainty about how the problems there will be resolved are adding to the risks that U.S. financial institutions, businesses, and households must consider when making lending and investment decisions…. Weaker economic conditions in Europe and other parts of the world have also weighed on U.S. exports and corporate earnings. And rather than being a single crisis that will pass, the European Monetary Union faces a chronic structural problem: a single currency means having a single monetary policy for all of the disparate countries in the euro zone. So some economists have called for the reintroduction of the German mark. (See for example, Kenneth Griffin and Anil Kashyap’s New Y...

Full article: http://qz.com/29598/how-the-electronic-deutsche-mark-can-...

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