Mises Daily
Author:
Jeffrey M. Herbener
Online Publish Date:
Members of Economic and Monetary Union couldn’t even wait for the euro’s official advent on January 1, 1999 to reveal its future. The EMU-wide interest rate cut in December 1998, an Keynesian-style effort to forestall a recession, was the real portent of things to come. Monetary inflation and credit expansion are the fate awaiting Europeans and