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analyse_finance-dominated_1309The new analysis (see fulltext PDF) by two members of the Institute states: There is no consensus among the ruling classes on the correct way of dealing with the crisis or how to continue with Europe. And works around questions like: Should the euro be defended? Would it not be better to split up the eurozone or give up the euro completely? Should the European Central Bank (ECB) buy unlimited amounts of government bonds or would this simply encourage irresponsible spending, policies that lead to debt and pave a direct path to inflation? Will austerity policies help us overcome the crisis, or would a more Keynesian policy of investment be more appropriate? How should austerity measures and measures that stimulate growth be balanced? Would it be better to return to the nation state and its  competencies, or move towards deeper European integration? How generously should competencies be transferred to the European Commission and the ECB? Should debtor countries such as Greece or Cyprus be rescued or would it be better to have an option for the insolvency of states and not only for banks? Read More

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