June 14, 2005

EU To Introduce Exchange Controls By The Back Door

The EU is to introduce exchange controls according to Village Hampden. Now I'm not an economist (so hopefully someone that is such as Tim Worstall will give some proper answers on this) but the last country that I know of that introduced exchange controls was Agentina just before it's economy fell off a cliff. Exchange controls do not mean that the economy is about to eat itself, China has had them for some time. But they are dangerous as, like Morphine, they deliver powerful relief from short term pain, but can easily lead to addiction and dependency.


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