Here are some sensible thoughts from my friend Steve Clemons
Dear Friends and Colleagues:
There is a big rush by some to impose a no-fly zone over Libya. Bill Clinton’s voice has joined others like Senators John McCain, John Kerry, and Joseph Lieberman as well as former New Mexico Governor Bill Richardson in calling for NATO and the US to impose a no fly zone.
I think this is a mistake — and is more of an emotional impulse than one that really helps the Opposition in Libya. The blowback costs could be huge — and there are other options, perhaps much better ones, to try and help those trying to rid themselves of Moammer Gaddafi’s rule.
My thoughts are here:
No-Fly Zone Over Libya Could Backfire & Undermine Protests in Middle East
Author: Warren Coats
I specialize in advising central banks on monetary policy and the development of the capacity to formulate and implement monetary policy. I joined the International Monetary Fund in 1975 from which I retired in 2003 as Assistant Director of the Monetary and Financial Systems Department. While at the IMF I led or participated in missions to the central banks of over twenty countries (including Afghanistan, Bosnia, Croatia, Egypt, Iraq, Israel, Kazakhstan, Kenya, Kosovo, Kyrgystan, Moldova, Serbia, Turkey, West Bank and Gaza Strip, and Zimbabwe) and was seconded as a visiting economist to the Board of Governors of the Federal Reserve System (1979-80), and to the World Bank's World Development Report team in 1989. After retirement from the IMF I was a member of the Board of the Cayman Islands Monetary Authority from 2003-10 and of the editorial board of the Cayman Financial Review from 2010-2017. Prior to joining the IMF I was Assistant Prof of Economics at UVa from 1970-75. I am currently a fellow of Johns Hopkins Krieger School of Arts and Sciences, Institute for Applied Economics, Global Health, and the Study of Business Enterprise. In March 2019 Central Banking Journal awarded me for my “Outstanding Contribution for Capacity Building.” My recent books are One Currency for Bosnia: Creating the Central Bank of Bosnia and Herzegovina; My Travels in the Former Soviet Union; My Travels to Afghanistan; My Travels to Jerusalem; and My Travels to Baghdad. I have a BA in Economics from the UC Berkeley and a PhD in Economics from the University of Chicago. My dissertation committee was chaired by Milton Friedman and included Robert J. Gordon.
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