How does the Archduke see the euro in relation to the concept of government-controlled money?
I am rather for control of money than I was at a time. That is so. I have now seen especially the experiences of the countries of Central Europe. The formula of the European Union is not bad. It can of course be improved. That is quite clear. But I think it has a major role today especially since we are in a situation of international inflation. Let’s go back to the end of World War II. The United States opened the gates for inflation with the decision of the paper gold. I was at the time very much against that sort of approach. I think we now are starting to pay for it. Q: What is the future of the European social model? His Highness: Do you mean the concept that the politicians are talking about? Baltzersen: Yes, referred to by politicians as the basis for high tax levels. A: That, of course, I do not favor. I think that it’s running out. We are getting more and more into trouble, and therefore I cannot be in favor of something that, in the end — while it gives certain groups in our
