Dollars and Jens
Friday, May 14, 2010
fool me twice, Euro edition
The European Commission on Wednesday recommended that Estonia be allowed to adopt the euro next year despite a critical report from the European Central Bank.

The divergent views evoked a similar split a decade ago over Greeceā€™s readiness to join the euro zone, which is now struggling with a sovereign debt crisis set off by Greece.
Wouldn't an exchange-rate--fixing mechanism with support from both sides seem a more prudent approximation about now? (In fact, looking at an exchange-rate chart, it looks to me like there might be a peg right now. 48 euros to 751 kroons or so?)

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