IEA study concludes that "euro is well managed by the ECB but continental EU governments need to address fundamental structural problems in their economies"
A commentary by David B. Smith, Chief Economist at Williams de Broe and Chairman of the IEA’s Shadow Monetary Policy Committee, agrees with much of Professor Issing’s analysis. Smith does not believe that the good record of monetary management in the euro zone has implications for the decision of the UK as to whether it should join the euro. The political implications of the UK joining the Euro, argues Smith, would be such as to lead to the imposition of the tax and regulatory burdens currently suffered by the euro zone.
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