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== Father of the euro == Robert Mundell was considered the "father of the [[euro]]" for his early work encouraging a European monetary union.<ref name=":0" /><ref>{{Cite news|last=Redburn|first=Tom|date=2021-04-05|title=Robert A. Mundell, a Father of the Euro and Reaganomics, Dies at 88|language=en-US|work=The New York Times|url=https://www.nytimes.com/2021/04/05/business/economy/robert-mundell-dead.html|access-date=2021-04-05|issn=0362-4331}}</ref> Starting in the 1960s, Mundell supported the constitution of a [[Economic and Monetary Union of the European Union|European Economic and Monetary Union]] and pushed for the creation of the euro.<ref>{{Cite web|date=May 2001|title=ONE WORLD, ONE MONEY?|url=https://web.ntpu.edu.tw/~guan/courses/Friedman-Mundell.pdf}}</ref> In 2000, he predicted that before 2010, the [[eurozone]] would expand to cover 50 countries, while the U.S. dollar would spread throughout Latin America, and much of Asia would look towards the yen.<ref>{{cite news|author=Mark Milner and Charlotte Denny |url=https://www.theguardian.com/business/2000/jan/14/9 |title=The new endangered species | Business |newspaper=The Guardian |date= January 14, 2000|access-date=January 1, 2012 |location=London}}</ref> Such predictions have proved highly inaccurate. In his 2012 article "Robert Mundell, evil genius of the euro", [[Greg Palast]] affirms that Mundell advocated for the euro because its implementation would have the effect of removing democratic control over [[monetary policy]]. As such, when a crisis hits, eurozone governments would not be able to stimulate the economy by creating money, as is prescribed by [[Keynesian economics]]. They would thus be forced to resort to other means to curtail unemployment, such as deregulating businesses, privatizing state industries, cutting taxes, and weakening the [[social safety net]].<ref>{{Cite news|last=Palast|first=Greg|date=2012-06-26|title=Robert Mundell, evil genius of the euro {{!}} Greg Palast|language=en-GB|work=The Guardian|url=https://www.theguardian.com/commentisfree/2012/jun/26/robert-mundell-evil-genius-euro|access-date=2020-06-26|issn=0261-3077}}</ref> In 2014, Mundell voiced his opposition to proposals of a [[fiscal union]] between the European states. He declared that "it would be insane to have a central European authority that controls all the taxes and duties of the states ... controlled in the Union. This transfer of sovereignty is far too big". He also voiced his opposition to the prospect that countries could be liable for other countries' debt.<ref>{{Cite web |url=https://www.focus.de/finanzen/doenchkolumne/vater-des-euro-fleht-eurozone-muss-zurueck-auf-los_aid_897745.html |language=de |title=Vater des Euro fleht: Eurozone muss zurück auf "Los" |date=July 29, 2014 |access-date=September 20, 2020}}</ref>
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