Why The Euro Isn't Worth Saving

04/22/2012 01:05 pm ET
  • MATTHEW O'BRIEN The Atlantic

Pop quiz, hotshot. You're the prime minister of Spain. It's 2005. Unemployment is at a two-decades low. Housing prices are booming. You're worried that they might be booming too much. You want to put a brake on the economy. You also hope to build up a rainy day fund for any possible bust. How big a budget surplus should you run?

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