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Wynne Godley: Maastricht and All That

Wynne Godley  (1926-2010) was an British economist. He predicted that the 1973–74 economic boom would end, and that unemployment would hit 3 million in the 1980s. In 1992 he warned that without shared fiscal policy to replace currency movements there would be problems with monetary union in Europe. In 1998, he was one of the first to warn that the growing imbalance in the global economy, fuelled by burgeoning American private sector debt, was unsustainable.

In 1992, when he published "Maastricht and All That", the term "euro zone" was not yet known. We talked about the "Economic and monetary union". The article was written after the first and unsuccessful Danish referendum on the ratification of the Maastricht Treaty.

Read the article on LRB website : Maastricht and All That 

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