Until relatively recently, academics and Western policymakers overwhelmingly supported the official position of the European Union. Nowadays we live in a world where the head of the International Monetary Fund -- who also happens to be the former Finance and Economy Minister of France -- publicly says the "inherent volatility" of cross-border capital movements is a problem.
Continue reading: If Spain didn’t need capital controls, why would anyone?If Spain didn’t need capital controls, why would anyone?
Until relatively recently, academics and Western policymakers overwhelmingly supported the official position of the European Union. Nowadays we live in a world where the head of the International Monetary Fund — who also happens to be the former Finance and Economy Minister of France — publicly says the “inherent volatility” of cross-border capital movements is a problem.
Continue reading: If Spain didn’t need capital controls, why would anyone?