Carl-Ludwig Holtfrerich compares the current Euro crisis with the US debt crisis in the 1840s, when the US had a common currency and a fully-fledged central government, and nine out of 27 US states defaulted. That crisis, he says, did not endanger the US dollar then, just as the current crisis does not endanger the euro now.
Carl-Ludwig Holtfrerich is a Professor of Economics and Economic History at the Freie Universitat Berlin.
online courses concordia Carl-Ludwig Holtfrerich: Optimal Currency Areas and Governance - The Challenge of Europe (1/8) | |
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