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In addition to gizmo's comment the story also seems unreasonable in another way. The very last chapter, starting at 10m18s, presents a false choice between esta
by Confiks 11y ago
In addition to gizmo's comment the story also seems unreasonable in another way. The very last chapter, starting at 10m18s, presents a false choice between establishing a fiscal union and pending doom. That union is modeled as the Frankfurt ECB office and is characterized as "The United States of Europe".
From the story:
"This brings us back to that fundamental division of monetary policy and fiscal policy. Ultimately, the euro area requires a fiscal union to match its monetary union, or neither. That is, there must be a political organization with authority to set fiscal policy within every euro area country. It must have the power to cut spending, raise taxes and set laws."
The authors of the story clearly believe that a fiscal union will solve all problems of deficit across the European union, but plainly fail to articulate why beyond presenting an animated hand which is cutting state spending.