A Trio of Trilemmas
European leaders have enjoyed a period of respite from financial turmoil since last summer.But the euro remains vulnerable.Portuguese bond yields soared this week as the ruling coalition fractured.Ireland's economy has contracted for three quarters in a row.A proper banking union is a long way off.The euro's fragility is underlined by a new study by Michael Bordo of Rutgers University and Harold James of Princeton University.The two economic historians look at the flaws in another supposedly impregnable intemational monetary regime,the gold standard,and find reasons to fret about the single currency.
2013-09-12（万方平台首次上网日期，不代表论文的发表时间）
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