‘Striking similarities' between eurozone and the pre-1914 gold standard
Greece and other countries in the south of the European Union have suffered much greater economic harm than the countries experiencing crisis under the pre-1914 gold standard, according to a recent research paper.
The European crisis in the context of the history of previous financial crises, by Michael Bordo and Harold James, which was first presented during a Bank of Greece conference in May, argues there are striking similarities between the Economic and Monetary Union (EMU) today and the
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