Re:Yanis Varoufakis' first interview since resigning
by gizmo on Monday July 13, 2015 @07:16AM
(#9877381)
Loaning more money to a country already drowning doesn't solve anything, obviously. Greece is already insolvent (not bankrupt), and giving them more debt doesn't fix that.
I agree that there should be a way for countries to leave the Eurozone. Also, at least one of two things need to happen:
- introduce a cap on borrowing (during boom periods), so that countries can't get themselves into excessive debt.
- create a bailout fund so that countries that mess up can be helped back on their feet.
> we will be able to leave the loss to the private sector and not to the tax payers
You're aware that the first bailout moved the losses from predatory lending from the private sector to the European taxpayer, aren't you? The entire story of the last five years is that the regular people are getting punished and the institutions get bailed out.
I agree that there should be a way for countries to leave the Eurozone. Also, at least one of two things need to happen:
- introduce a cap on borrowing (during boom periods), so that countries can't get themselves into excessive debt.
- create a bailout fund so that countries that mess up can be helped back on their feet.
> we will be able to leave the loss to the private sector and not to the tax payers
You're aware that the first bailout moved the losses from predatory lending from the private sector to the European taxpayer, aren't you? The entire story of the last five years is that the regular people are getting punished and the institutions get bailed out.