He was one of the first to say, in the 1930s, that economies could just get stuck: they might sink, and then NOT float magically back up.

BBC: Masters of money: John Maynard Keynes

Britain barely joined before being forced to let its currency float (ie, sink).

ECONOMIST: EURO BRIEF

If the rates were allowed to float up to market levels, Irish households, banks, and the government itself, would all sink.

FORBES: Sovereign Debt Levels Imperil Entire Financial System