Wednesday, February 27, 2013

Eurozone crisis

The Eurozone debt crisis is far from over. They've only papered over it like Japan did in the 1990s, and US in the 2000s. The crisis will resurface again. The construction of the euro was fundamentally flawed. Member countries are allowed to have deficits of up to 3% of their GDP. Which politicians wouldn't take advantage of that? Each year the debt still goes higher. A top economist in the Greek govt privately told people that they're never gonna pay the money back. Bailouts = throwing money down the rathole

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