Monday 19 February 2018

The solution lies in accepting inflation and the creation of a Europe-wide Nama, writes John Teeling

John Teeling

Like the emperor's clothes, the answers to Europe's problems are known but no one will accept them -- at the moment. But I do not believe that fiscal integration is the answer. I have to admit that I don't know what is going to happen in Europe but people should be aware.

A possible solution is as follows:

1. Create a massive European-wide bank, or Nama Mor, which takes on all of the European banks bad debts. This agency issues bonds -- call them eurobonds, namabonds, anything you like. They have a coupon and a very long term -- 30 years. Trillions of euro have been lost. They are gone forever. The losses must be realised before we can move on.

Please sign in or register with for free access to Opinions.

Sign In

Promoted Links

Today's news headlines, directly to your inbox every morning.

Don't Miss