I have followed your commentary and television interviews with great interest. Rated among the plethora of other professors and experts who gain air time on international news channels covering the Eurozone crisis and specifically that unfolding in Greece, you make a lot of sense. Your only flawed item was the recent Channel 4 piece. Whilst pragmatic and almost utopian, it was somewhat naive. This apart, I think you are very good and you should be heard loud and clear. Your country needs people like you.
John
Anything Merkel touches is turning to coal. The global community is aghast with this untalented woman whose only contribution to her marriage was to leave it along with the apartment refrigerator.
It is also very important that one of these days we get the terminology right.
This has nothing to do with Greece, or aid to Greece or bailout to Greece or anything Greek at all.
This has all to do with the inadequate policies of Berlin which continue to receive a “non-passing” grade from all markets everywhere.
Anyone who tell you otherwise is a big liar. Ooops here is this certain Merkel picture poping again.
Most of the moneys involved in the loan and the escrow account are funds supplied by
sovereign states or transnational entities to pay private banks for bad lending decisions.
This is pure moral hazard.
This also applies to Greek Banks. Why waste money on all these fellows and not set up
a true investment bank and a savings bank separately whose functions would be:
The savings bank would pick the small savers from the rabble of the big banks and make them whole.
The investment bank would begin financing truly productive investments.
Wow: “Greece’s Lenders Have The Right To Seize National Gold Reserves”
6 Comments
I have followed your commentary and television interviews with great interest. Rated among the plethora of other professors and experts who gain air time on international news channels covering the Eurozone crisis and specifically that unfolding in Greece, you make a lot of sense. Your only flawed item was the recent Channel 4 piece. Whilst pragmatic and almost utopian, it was somewhat naive. This apart, I think you are very good and you should be heard loud and clear. Your country needs people like you.
John
Anything Merkel touches is turning to coal. The global community is aghast with this untalented woman whose only contribution to her marriage was to leave it along with the apartment refrigerator.
It is also very important that one of these days we get the terminology right.
This has nothing to do with Greece, or aid to Greece or bailout to Greece or anything Greek at all.
This has all to do with the inadequate policies of Berlin which continue to receive a “non-passing” grade from all markets everywhere.
Anyone who tell you otherwise is a big liar. Ooops here is this certain Merkel picture poping again.
Most of the moneys involved in the loan and the escrow account are funds supplied by
sovereign states or transnational entities to pay private banks for bad lending decisions.
This is pure moral hazard.
This also applies to Greek Banks. Why waste money on all these fellows and not set up
a true investment bank and a savings bank separately whose functions would be:
The savings bank would pick the small savers from the rabble of the big banks and make them whole.
The investment bank would begin financing truly productive investments.
Wow: “Greece’s Lenders Have The Right To Seize National Gold Reserves”
http://www.zerohedge.com/news/greece%E2%80%99s-lenders-have-right-seize-national-gold-reserves
Any normal government would have opted for new Drachme instead of that. Especially when looking on Icelands recovery.
That’s right.
First the Germans will return all the gold they stole from the Bank of Greece during WWII and then we will seize it.