Proposal for the Eurozone
January 18, 2010 at 19:36 PM EST
[Skip to the end] I propose the ECB distribute 1 trillion euro to the national govts on a per capita basis. The per capita criteria means it’s not a bailout and not a ‘reward for bad behavior.’ It would immediately adjust national government debt ratios substantially downward and ease credit fears. If there is no undesired effect [...]