Why Sweden should stay out of the EU budget pact

posted by
December 19, 2011
Cato Institute
by Johan Norberg  
Posted in Commentary

"The Euro-project's biggest mistake is the idea that banks never had to be careful with their lending, because if households borrowed so much that they became insolvent states would save the banks. And if states borrowed so much that they became insolvent, Germany would rescue them. It was never said bluntly, on the contrary, they said it would never happen, but the behaviour of the central bank and politicians reveals that was always the idea." (12/13/11)


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