Jean Paul Trichet has a bold idea to save the euro. He wants to give European politicians the power to declare a sovereign state – read Greece – bankrupt and take over its fiscal policy. No, this is not a news from Onion. Ex-President of ECB unfurled his plan ahead of the G8 summit at Camp David this weekend. According…
There is an emerging school of economic thought, Modern Monetary Theory (MMT), that describes: “the workings of modern money systems, where a government responsible for fiscal policy (taxing and spending) is a monopoly currency issuer, issuing a non-commodity-based floating exchange rate currency” To better understand the cause(s) of the financial melt-down of 2007, many prominent economists developed…