Wednesday September 23, 2020

Turning a drama into a crisis

Greece should not be lent any more money, but the euro crisis continues only because the powerful like stability - as in more of the same, writes David McWilliams.

19th February, 2012
'There has been much talk about the 'squeezed middle'. Well, what about the 'bloated middle'?.'

When the left and the right are at one about something, you know there is something odd happening. Both the left and the right believe that Greece should not be lent any more money and, interestingly, they both see the banks as the only real beneficiaries.

For right-wingers and those who, in economics terms, believe broadly in what is called the Austrian school, lending to Greece is plain stupid. They say that lending to any...

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