10/06/2008 12:36:40 pm
The Economist: The Euro Has Been a Success. In the latest edition of The Economist, there is a Briefing about the ten years with the euro, and a leader. The conclusions are almost identical to the Swedish report I wrote with Fabian Wallen on the same topic. It is described as a success, with "sky-high" confidence in the European Central Bank. They also point out that the ECB "coped strikingly well with the credit crunch", inspiring both the Bank of England and the Fed. The Economist also argues that sceptics were wrong about the ECB and exaggerated possible negative effects of a "one size fits all" monetary policy. They also point to the fact that several more countries are about to join. A future issue, which is mentioned, will be that some euro countries by the Mediterranean have economic problems and are in need of structural reforms. Read the leader here, the first article of the Briefing here, and the second here.