Martin Wolf's Intolerable Choices for the Eurozone
Martin Wolf provides a timely analysis of the Eurozone's options. Wolf argues that ultimately the Eurozone faces a choice between default and partial dissolution or open-ended official support.
Wolf's core argument was itself based on analysis by Hans-Werner Sinn (see here: http://www.voxeu.org/index.php?q=node/6599).
This has now been challenged strongly by Olaf Storbeck http://olafstorbeck.com/2011/06/06/the-stealth-bailout-that-doesn%E2%80%99t-exist-debunking-hans-werner-sinn/ and by Karl Whelan http://www.iiea.com/blogosphere/professor-sinn-misses-the-target.
Can any PE bloggers or readers shed light as to which side of the debate is right?
An update on this.
ReplyDeleteWolf's core argument was itself based on analysis by Hans-Werner Sinn (see here: http://www.voxeu.org/index.php?q=node/6599).
This has now been challenged strongly by Olaf Storbeck http://olafstorbeck.com/2011/06/06/the-stealth-bailout-that-doesn%E2%80%99t-exist-debunking-hans-werner-sinn/ and by Karl Whelan http://www.iiea.com/blogosphere/professor-sinn-misses-the-target.
Can any PE bloggers or readers shed light as to which side of the debate is right?