Europe unified its monetary policy through the euro before it unified politically, therefore sustaining member countries' abilities to pursue the kind of independent fiscal policies that can strain a joint currency.

Many writers, including myself, have detailed how irresponsible government actions slow economic recoveries. Similar behavior by individuals impedes growth, too. If you can't find someone reliable to do a deal with, you simply don't do the deal at all.

If expectations of lifetime earnings drop, then so will spending.

Amity Shlaes Quotes