International

The euro of our dreams? | Opinion

Klaas Knot, President of the Central Bank of the Netherlands, member of the Governing Council of the ECB considered a “hawk”, with positions close to the German Jens Weidmann and close to the Dutch Prime Minister, Mark Rutte, the 1st September 2020, during the HJ Schoo 2020 conference and in an interview with the Dutch newspaper Volkskrant, he defended positions that I have defended in this column, arguing that the euro is not viable, that it risk of disintegration, that it benefits (it is an implicit subsidy) the competitive international economies and harms (it is an implicit tax) the less competitive economies (like the Portuguese). Knot advocates the cancellation or restructuring of the debt of countries with higher public debt. The following passages are significant where he says:

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