The growing awareness of a deep crisis in Europe where two decades of anaemic economic growth is producing significant stresses to the previously stable systems of governance has us reaching for all
kinds of reasons why. One of the most popular is
overly strong worker protections. Yet breaking the unions and stripping back worker protections will not set Europe up for US style success, because Europe does not have the
exorbitant privilege of controlling the global money supply. John Maynard Keynes was right - we didn’t need Bretton Woods, we needed the
BANCOR.