... Let’s first stipulate that Greek governments are 100 per cent responsible for borrowing money they knew they had no hope of repaying, and that they should be deemed fully culpable for their actions. Let’s also stipulate that the foreign banks and their EU enablers are 100 per cent responsible for making irresponsible loans that they knew couldn’t be repaid, and that they too should be deemed fully culpable for their misconduct.Let's see what they do.
... It has only one sensible choice — to tear up most or all of its debts and start fresh. This course, if navigated by even a half-competent government, could quickly pull Greece out of its seven-year-long depression and lead the country into prosperity....
Friday, July 10, 2015
What should Greece do?
Lawrence Solomon's advice (or is it just a prediction?):