Tuesday, May 22, 2012
An overview of the EU's dilemma with GreeceFrench journalist Eric Maurice gives a decent general description of the current euozone dilemma, although he seems to think that Angie's fiscal suicide pact would fix things. That says he doesn't have a very good grasp of the economics of this thing.
Here's how he puts it in No way out? Presseurop 05/18/2012, using the neologism "Grexit" for a Greek exit from the euro currency:
But should we be convinced that a Grexit is the solution? The economists and politicians who have weighed the pros and cons of such a move have failed to provide a convincing case for a Eurozone either with or without Greece. Rather, as Il Sole-24 Ore has noted, the current debate resembles a bluff – and a particularly dangerous bluff for all involved.Tags: austerity economics, eu, euro, european union, greece
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No subject for immortal verse
That we who lived by honest dreams
Defend the bad against the worse."
-- Cecil Day-Lewis from Where Are The War Poets?
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