That 1914 Feeling
In some ways, what defenders of the euro should fear most is not a crisis this year, but what happens once Greece starts to recover and becomes a role model for anti-establishment forces across the continent.
.. Guess whose reckless lending mismanagement and business incompetence you’ve never seen in the paper since they drove Greece and half of Europe into lender-induced bankruptcy ?
Deutsche Bank
Commerzbank
Credit Agricole
Societe GeneraleStop bailing out the rich and punishing the poor for 0.1% bankster stupidity and greed.
.. The big mistake was made by the European governments (particularly Germany, France and the Netherlands) in guaranteeing and thereby nationalizing (the down side of) the loans made by rich people, big private insurers and banks to Greece. In my view, the private money-lenders should have been left to fend for themselves. They would have had to take “hair cuts” or cut interest rates or left to see their investments go belly up.
.. History seems to teach us we rarely solve any really big problems – or even many small ones – but rather simply push them off on someone else in the future. I expect that is how it will go in Greece just as it is going with regard to Climate Change and every other problem we face.