Baltic euro hopes: the Balassa-Yossarian effect

  • 2006-03-01
  • By Hardo Pajula
Joseph Heller tells in his satirical WWII novel "Catch-22" a story of a bomber commander John Yossarian, who in an attempt to circumvent his deadly missions appeals to his alleged insanity. The bureaucrats of the Air Force, the real villains of the story, counter Yossarian's pursuits with the following rule: one may only be excused from missions on the grounds of insanity; however, the very fact of asking for being excused is taken as a proof of sanity. Policymakers of those countries sitting in the eurozone's waiting room 's including the three Baltic states 's may have suddenly developed ...
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