Barry Eichengreen interview for Cleveland FED

We now know that the move to monetary union was premature. Monetary union requires at least limited banking union. Banking union requires at least limited fiscal union. And fiscal union requires at least limited political union. The members of the euro zone are now moving as fast as they can, which admittedly is not all that fast, to retrofit their monetary union to include a banking union, a fiscal union, and some form of political union. Time will tell whether or not they succeed.

And more: "But even if hindsight tells us that moving to a monetary union in 1999 was premature, it is important to understand that history doesn’t always run in reverse. The Europeans now will have to make their monetary union work. If they don’t, they’ll pay a high price. (emphasis added)

Ο Christopher T. Mahoney συμφωνεί με Π. Λαφαζάνη

Ο τ.Αντιπρόεδρος της Moody's θεωρεί ότι As long as the troika persist in their deflation policies, there is no hope for growth for Southern Europe. Επο πλέον,

Why have a prolonged depression prior to D-Day, if D-Day is inevitable? Right now the most important question is whether there is any hope of negotiating an orderly exit with the troika, including transitional financial assistance.

Χμ... ενδιαφέρουσα άποψη! 

Paul Krugman: How the Case for Austerity Has Crumbled

Arguably the definitive answer to the austerians by you-know-who in The New York Review of Books
He takes the opp of a post by Noah Smith, a young economist buck of note who bloggs at Noahpinion to come back to the subject, and use yet another new angle.

Henry Farrell 's excellent turn of phrase

Great quote:

.. if you want to criticize it, you need to understand it

at Crooked Timber  

Spiegel : Οι (κακές) σχέσεις Γερμανίας - Γαλλίας

http://www.spiegel.de/international/europe/tensions-grow-between-germany-and-france-over-austerity-a-897318.html 

Hans-Werner Sinn on the EZ

To exit or not to exit.
Hans-Werner Sinn takes on Soros and thinks that Soros is playing with fire. His arguments are clear and supported by the latest EEAG Report (pdf) , especially Chapter 2 

Quote of the day/month/year/century/millennium ?

h/t to Dani Rodrik
“One thing that experts know, and that non-experts do not, is that they know less than non-experts think they do.”   
Kaushik Basu,  chief economist at the World Bank