I presented a detailed analysis of Turkey’s economic problems some time ago (here in German). The situation is now deteriorating dramatically because the Turkish lira continues to be under enormous pressure and has lost more than a third of its value against Western currencies since the beginning of the year. …
As part of our TARGET discussion, I had already asked what drives the alarmist economists, who only warn but never name the reasons for the problems they have “uncovered”? Now the leader of this species, Hans-Werner Sinn, is back and takes the twentieth anniversary of the euro as an opportunity to state completely pointlessly that the euro has not been a success story. …
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A loyal Makroskop reader recently sent me Hans-Werner Sinn’s TARGET article linked here (here a short version in the daily Frankfurter Allgemeine Zeitung (FAZ), in German) and asked a simple question: “Why is this man writing this? (Professor Sinn used to run the Ifo Institute for Economic Research in Munich). …
