Barry Eichengreen Quotes

Across the continent, political divisions are deepening. For all of these reasons, the specter of a euro zone collapse has not been dispatched.

~ Barry Eichengreen

Across Been Collapse Continent Deepening Divisions Euro Political Reasons Specter Zone

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As for the single market, the E.U.'s landmark achievement, there is no question that a euro zone breakup would severely disrupt its operation in the short run.

~ Barry Eichengreen

Achievement Breakup Disrupt Euro Landmark Market No Question Operation Question Run Short Single Would Zone

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Every day it seems more likely that we are destined - or should one say doomed? - to replay the disastrous economic history of the 1930s.

~ Barry Eichengreen

1930s Day Destined Disastrous Doomed Economic Every Every Day History Likely More Say Seems Should

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For those unfortunate enough to experience it, long-term unemployment - now, as in the 1930s - is a tragedy. And, for society as a whole, there is the danger that the productive capacity of a significant portion of the labour force will be impaired.

~ Barry Eichengreen

1930s Capacity Danger Enough Experience Force Labour Long-Term Now Portion Productive Significant Society Those Tragedy Unemployment Unfortunate Whole Will

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Political union means transferring the prerogatives of national legislatures to the European parliament, which would then decide how to structure Europe's fiscal, banking, and monetary union.

~ Barry Eichengreen

Banking Decide Europe European Fiscal How Means Monetary National Parliament Political Structure Then Union Which Would

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Southern Europe has not done enough to enhance its competitiveness, while northern Europe has not done enough to boost demand. Debt burdens remain crushing, and Europe's economy remains unable to grow.

~ Barry Eichengreen

Boost Burdens Competitiveness Crushing Debt Demand Done Economy Enhance Enough Europe Grow Northern Remain Remains Southern Unable While

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The consequences of a collapse would not be pretty. Whichever country precipitated it - Germany by threatening to abandon the euro, or Greece or Spain by actually doing so - would trigger economic chaos and incur its neighbours' wrath.

~ Barry Eichengreen

Abandon Actually Chaos Collapse Consequences Country Doing Economic Euro Germany Greece Neighbours Pretty Spain Threatening Trigger Would Wrath

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This crisis of long-term unemployment is having a profoundly damaging impact on the lives of those bearing the brunt of it. We know this thanks to a series of careful studies of the problem conducted in the depths of the 1930s Great Depression.

~ Barry Eichengreen

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Why was there so much work-sharing in the 1930s? One reason is that government pushed for it. In his memoirs, President Herbert Hoover estimated that as many as two million workers avoided unemployment as a result of his efforts to promote work-sharing.

~ Barry Eichengreen

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