Jose Juan Ruiz

@jotaruiz.bsky.social

The astonishing success of the eurocrisis bailouts?! Christian is absolutely right to totally skewer such Eurocrisis revisionism. I understand the temptation because the EU now needs to engage in some fiscal consolidation as rates are high. But, back then, it was catastrophic.

Christian Odendahl@codendahl.bsky.social · 2y ago

In essence, the #euro crisis only got better once all 3 German dogmas went out the window. 1) That the ECB was no lender of last resort, 2) that austerity was the way to fiscal health, and 3) that banking supervision and clean-up should remain national responsibility.