Tuesday, March 20, 2012

EU Treatment of Greece Shows ‘Moral Decay’

Says Carl Weinberg, founder and chief economist of Frequency Economics, a consultancy. He claims that European Union leaders delayed Greece’s debt restructuring  (read ‘partial default’) in order to minimize the impact on the region’s banks.

Read the story on CNBC.

And obviously a second default will be necessary in the near future I would add, as well as an exit from the euro, both being similarly delayed for the  moment, at a high cost for the Greek economy and citizens’ standard of living.

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