Posted on 05/11/2015 9:08:40 AM PDT by Olog-hai
Belgian economist Alexandre Lamfalussy, who headed the institution that became the European Central Bank and was credited as one of the founders of the shared euro currency, has died at age 86. […]
Lamfalussy headed the Frankfurt-based European Monetary Institute from 1994-97. The institute laid the groundwork for the creation of a supranational central bank to manage the new currency.
The institute became the European Central Bank in July 1998, under its first president, Wim Duisenberg. The euro was introduced on Jan. 1, 1999, with 11 member countries. …
(Excerpt) Read more at hosted.ap.org ...
RIP.....but it was a V-E-R-Y S-T-U-P-I-D idea, the euro.
The European Commission’s top economists warned the politicians in the 1990s that the euro might not survive a crisis, at least in its current form. There is no EU treasury or debt union to back it up. The one-size-fits-all regime of interest rates caters badly to the different needs of Club Med and the German bloc.All about the resurrection of imperialism.
The euro fathers did not dispute this. But they saw EMU as an instrument to force the pace of political union. They welcomed the idea of a “beneficial crisis”. As ex-Commission chief Romano Prodi remarked, it would allow Brussels to break taboos and accelerate the move to a full-fledged EU economic government. …
Amazingly there are countries not in the euro zone where polls show more than 50% support for adopting the euro.
Part of the NWO scheme.
With a name like that, didn’t he also invent “scoots”, “pistulas”, and “pezzuzas”?
RIP nonetheless.
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