15/09/10 17:17:41.62 ozmUAsMx.net
>>213の続き
3. Euro crackup: For the most part, I think my analysis of the euro
area’s economy and its problems was pretty good (but see below).
But I vastly overestimated the risk of breakup, because I got the
political economy wrong --- I did not realize just how willing euro
elites would be to impose vast suffering in the name of staying in.
Relatedly, I didn’t realize how easy it would be to spin a modest
upturn after years of horror as success.