Mises Wire
Author:
Philipp Bagus
Online Publish Date:
Editor’s Note: Greece is looking at defaulting on its debts yet again, the EMU remains in crisis mode. In this article from 2001, Philipp Bagus, author of The Tragedy of the Euro , suggests that such crises are inevitable: Although the external effects of a monopolistic money producer and a fractional-reserve banking system regulated by a central