{"id":3087,"date":"2012-06-08T08:41:16","date_gmt":"2012-06-08T07:41:16","guid":{"rendered":"http:\/\/www.jcm.org.uk\/blog\/?p=3087"},"modified":"2012-06-08T08:41:16","modified_gmt":"2012-06-08T07:41:16","slug":"fixing-the-euro-its-very-simple","status":"publish","type":"post","link":"https:\/\/jcm.org.uk\/blog\/2012\/06\/fixing-the-euro-its-very-simple\/","title":{"rendered":"Fixing the euro: &#8220;It&#8217;s very simple&#8230;&#8221;"},"content":{"rendered":"<p>Yeah &#8211; <a href=\"http:\/\/mobile.nytimes.com\/2012\/06\/08\/world\/europe\/08iht-letter08.xml\">sounds like a piece of piss&#8230;<\/a><\/p>\n<p>&#8220;J\u00f6rg Asmussen, a member of the European Central Bank&#8217;s executive board and a former official at the German ministry of finance, outlined what Europe needs to do.<\/p>\n<p><em>&#8220;&#8216;It&#8217;s very simple,&#8217; Mr. Asmussen said. &#8216;We need a more integrated monetary union, because the monetary area that we have now is incomplete. And we have to complement it in a way to make it more stable. One point is a fiscal union. The second one is a financial market union with three key elements: a resolution regime; second element, a deposit guarantee insurance; and third, we need a centralized supervision for the large 25 banks in Europe.&#8221;<\/em><\/p>\n<p><em>&#8220;&#8216;We need a democratically legitimized political union,&#8217; he added. &#8216;We need to start this speedily.'&#8221;<\/em><\/p>\n<p>Well that&#8217;s alright, then. Should be doable by the end of next week, I&#8217;d say.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Yeah &#8211; sounds like a piece of piss&#8230; &#8220;J\u00f6rg Asmussen, a member of the European Central Bank&#8217;s executive board and a former official at the German ministry of finance, outlined what Europe needs to do. &#8220;&#8216;It&#8217;s very simple,&#8217; Mr. Asmussen &hellip; <a href=\"https:\/\/jcm.org.uk\/blog\/2012\/06\/fixing-the-euro-its-very-simple\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"quote","meta":{"footnotes":""},"categories":[60,12],"tags":[],"class_list":["post-3087","post","type-post","status-publish","format-quote","hentry","category-economics","category-eu-reform","post_format-post-format-quote"],"_links":{"self":[{"href":"https:\/\/jcm.org.uk\/blog\/wp-json\/wp\/v2\/posts\/3087","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jcm.org.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jcm.org.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jcm.org.uk\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/jcm.org.uk\/blog\/wp-json\/wp\/v2\/comments?post=3087"}],"version-history":[{"count":1,"href":"https:\/\/jcm.org.uk\/blog\/wp-json\/wp\/v2\/posts\/3087\/revisions"}],"predecessor-version":[{"id":3088,"href":"https:\/\/jcm.org.uk\/blog\/wp-json\/wp\/v2\/posts\/3087\/revisions\/3088"}],"wp:attachment":[{"href":"https:\/\/jcm.org.uk\/blog\/wp-json\/wp\/v2\/media?parent=3087"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jcm.org.uk\/blog\/wp-json\/wp\/v2\/categories?post=3087"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jcm.org.uk\/blog\/wp-json\/wp\/v2\/tags?post=3087"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}