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Under the league's personal-conduct policy, "it is not enough simply to avoid being found guilty of a crime.
Since Argentina does not have its own monetary policy, it is stuck with Washington's.
Finally, if the CCT idea were to play a larger role in U.S. policy, it is worth considering its costs.
But so long as China maintains its current exchange-rate policy, it is, ironically, helping keep the dollar dominant.
Lula's government has not only tightened monetary and fiscal policy, it is pursuing the structural reforms espoused by its predecessor.
With its fertility artificially suppressed by the one-child policy, it is ageing at an unprecedented rate.
As a guide to policy, it is potentially disastrous.
Not only is that good policy, it is the law.
But, as policy, it is a wrong-headed muddle.
But as public policy, it is all flying pots and pans.
But, as with macroprudential policy, it is particularly appropriate for the euro zone.
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