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criteria to enter the Euro Crisis

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Inflation, interest rates, exchange rates and public debt were the famous criteria for entering the Euro. And Greece, together with Spain, the most "righteous" were to meet them.

Now we have inflation, but we have 20% unemployment (if we analyze the Phillips curve, a little more inflation, reduce unemployment, especially in Spain ...). As we are in the Euro area, we can not (unlike in England, Sweden and Denmark in the EU, and Norway and Iceland outside) devalued, or touch interest rates. Our Public Debt accuses the "solvency of Spain" (as the rest of "Pigs") and the differential with the famous German Bono ... and find it more expensive to finance ourselves.

Not a mistake to change our peseta for the euro? Mark
Zabaleta

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