Well that’s one view.
the other is that the Eu is a total clusterfeck and we’ve already seen how difficult it is if 1 (solvent) country decides its leaving.
Imagine what happens when the Ponzi collapses. imagine trying to unwind that and who owes what?
('Target2' homework everyone1)
Couple of fun facts for you-
To raise money for the Ponzi, the ECB is exploring “mutual bonds”.
Oh yeah, let’s combine AAAGermany with ZZZ Greece and sell debt- that creates MMM rated EU bonds. Problem solved,
until Germans find out they’re on the hook for Greek debt and their credit rating is diminished because Greece has no money!
does anyone believe Greece is solvent now?
Also, more rule changes, they’re considering extending the Ponzi again.
https://www.bloomberg.com/news/arti...ghi-should-help-lagarde-by-tweaking-ecb-rules
They ain’t tweeking things, they’re making it up as it goes along.
Surely people with more intelligence (apparantly) than “leavers” can see this?
And some wonder why some wanna leave.
Ps, apart from the fact Lagarde is a criminal, she also has an excellent track record as a banker
Previous financial crises in Russia, Argentina, and Greece provide at least five valuable lessons for the current IMF-led rescue in Argentina.
www.brookings.edu
The International Monetary Fund, IMF, admitted on Wednesday that it had underestimated the “incredibly complicated situation” of the Argentine economy and also that taming inflation had taken much longer than originally expected.
en.mercopress.com
So the 8 previous bailout warning signs weren’t enough.
Perfect person for the Eu.