I’ve long been a euro-skeptic (and a Euroskeptic). But Brian Wesbury and Robert Stein remind us of an advantage of the euro: By making it impossible for the Greek government to solve its problems through devaluation, it forces the public sector to bear more of the pain of economic adjustment. (Warning: Forbes’s Northwestern Mutual ad could hardly be more annoying.)
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About the Author
Ramesh Ponnuru is the editor of National Review, a columnist for the Washington Post, and a fellow at the American Enterprise Institute.
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