The NYT had a piece on the prospect that the euro zone countries might move to a closer fiscal union. The piece commented that one positive aspect to the recent growth numbers for most euro zone countries,
"was the hope that slower growth would lead to less inflation, giving the European Central Bank [ECB] more leeway to keep interest rates low and intervene in bond markets."
Of course it is also possible that sufficient evidence that the euro zone is growing way below its potential could i...
Published on August 17, 2011 02:52