a Greek sack for free?
No, this bail-out package for Greece is not meant to heal Greek or any other nations' problems but is round two of the bank-bailout series where following the too-big-to-fail philosophy is the less worse of the bad choices - for the immediate moment and the financial system, the banks.
We all have to admit that the available options from sacking Greece to lending vast sums of third parties' new € debts to Greece seem of little attraction. Alone, whoever installed the EURO is responsible for these catastrophic choices we face today but were all warned off 10 and 12 years ago, already. So much for the competence of the politicians and the influence of the lobbies, then; and today?
Sacking Greece (and others) is the only way out; this path will also be hard, expensive and even disastrous, but at least it will be a decision with a defined reset date while trying to cover up the incompatibility of the EUROzone is not going to work at all; it will destroy the last remains of what once each were pretty strong European economies; the ongoing global fight for the weakest currency and the lowest costs is not going to help either.
"A long and hard disease causes certain death": I am sure this is also an old Chinese saying and very true.
Carpe diem.
We all have to admit that the available options from sacking Greece to lending vast sums of third parties' new € debts to Greece seem of little attraction. Alone, whoever installed the EURO is responsible for these catastrophic choices we face today but were all warned off 10 and 12 years ago, already. So much for the competence of the politicians and the influence of the lobbies, then; and today?
Sacking Greece (and others) is the only way out; this path will also be hard, expensive and even disastrous, but at least it will be a decision with a defined reset date while trying to cover up the incompatibility of the EUROzone is not going to work at all; it will destroy the last remains of what once each were pretty strong European economies; the ongoing global fight for the weakest currency and the lowest costs is not going to help either.
"A long and hard disease causes certain death": I am sure this is also an old Chinese saying and very true.
Carpe diem.
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