Hi Emilio, we are Laura and Andrea from 4 ESO A. We have read Krugman's article and we think that we are tired to hear what is beginning to sound like a north european semi-racist rant about beach-going-winos PIGS. PIGS? Couldn't they use a more polite GIPS? Spain has benefited from joining the Euro to some exent but ECB's interest rates have damaged our economy immensely, they were too low for too long fueling a huge bubble and now they are too high, hindering growth. What to do? Why can't the Bank of Spain set it's own interest rates? There must be a way for European countries to be able to set different interest rates and still maintain the advantages of a single currency.
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Hi Emilio, we are Laura and Andrea from 4 ESO A. We have read Krugman's article and we think that we are tired to hear what is beginning to sound like a north european semi-racist rant about beach-going-winos PIGS. PIGS? Couldn't they use a more polite GIPS?
Spain has benefited from joining the Euro to some exent but ECB's interest rates have damaged our economy immensely, they were too low for too long fueling a huge bubble and now they are too high, hindering growth. What to do? Why can't the Bank of Spain set it's own interest rates? There must be a way for European countries to be able to set different interest rates and still maintain the advantages of a single currency.
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