For euro-zone countries currently in crisis

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In the paper by Paul Degrauwe, The Governance of a Fragile Eurozone, he argues that the fundamental problem causing the problem in the Euro-zone today is that countries cannot borrow in their own currencies. Explain what he means by this and what the consequences of this are for Euro-zone countries currently in crisis. Pay particular attention to the contrast with Spain and the UK.

Reference no: EM13986854

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