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The crisis takes a much longer time coming than you think, and then it happens much faster than you would have thought.

— Rudiger Dornbusch

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More quotes by Rudiger Dornbusch

If there was ever a bad idea, EMU it is.

Monetary policy affects the ... of goods and assets and (iii) effects through changes in explicit or implicit real interest rates on aggregate demand.

Once Italy is in, with an appreciated currency, the country will soon be back on the ropes, just as in 1992, when the currency came under attack.

The most likely scenario is that EMU (Economic and Monetary Union of the European Union) will occur but will neither end Europe’s currency troubles nor solve its prosperity problems.

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Quote text and notes from Wikiquote: Rudiger Dornbusch (page history), available under CC BY-SA 4.0. Source quality and labels are our own summary of what Wikiquote records.