If you want to pinpoint the leading source of bad economic policy proposals, I would understand if someone suggested the Obama Administration. But looking to Europe might be even more accurate.
For instance, I’d be hard pressed to identify a policy more misguided than continent-wide eurobonds, which I suggested would be akin to “co-signing a loan for your unemployed alcoholic cousin who has a gambling addiction.”
And now there’s another really foolish idea percolating on the other side of the Atlantic Ocean. The U.K.-based Financial Times has a story about calls for greater European centralization from Italy.