The Tragedy of the Euro Quotes

“(...) Via simulation,... the assumptions were very restricted and seem to be chosen to get the desired result: all banks are sound except those that everyone knew before that they are unsound. Curiously, the Irish banks that a few months later were bailed out by the Irish governments passed the test. Yet, for the moment, a total collapse of the system was averted and the Euro recovered some of its losses during the summer.”
― Philipp Bagus, The Tragedy of the Euro

“(...) Militarily, Germany was vastly inferior to France and Great Britain and was still occupied by foreign troops. And after the war, the allies had reeducated the Germans in the direction of socialism, progressivism and pacifism—to ward off any military opposition.”
― Philipp Bagus, The Tragedy of the Euro