Larry Summers, the former US Treasury Secretary and now president of Harvard University, once called the single European currency a “distraction” from the serious supply-side reforms Europe needed to confront. This judgment may be too harsh, because we do not know whether the EU and the single market would have survived without the single currency.
La revisión a fondo de las débiles bases del lado de la demanda es el reto principal al que se enfrenta la revolución del euro y es un reto que se debe abordar desde sus raíces a nivel nacional.