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Švejna, Ivan

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1 article of this author has been cited in the European Press Review so far.

Hospodárske noviny - Slovakia | 19/02/2010

The end of the euro?

When the euro was introduced in 1998, economist Milton Friedman gave it no more than 15 to 20 years. The Slovakian business paper Hospodárske Noviny recalls Friedman's prediction in view of Greece's budget woes, writing that Friedman's doubts about the common currency were based on the fact that "it meant bringing together a group of countries at different stages of development. And of course with differing mentalities as well. Portugal, Italy, Greece and Spain were most often cited as problematic. Now the human factor is compounding the experts' arguments. How can responsible politicians intentionally make false statements? ... Even if the Eurozone outlives Greece's current crisis: if individual countries fail to introduce responsible economic measures and opt for false solidarity over adequate sanctions, Friedman's prophecy may soon prove right."

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