Good chart- shows how far the euro zone debt is out of bounds for their currency arrangements:

Sovereigns vs States

One Response

  1. Warren,

    Your own work can explain this difference when the US has a central fiscal authority that can spend and redistribute across states while Eurozone states are revenue constrained (involuntarily)and operating under a euro standard controlled solelely by the ECB.

Leave a Reply

Your email address will not be published. Required fields are marked *