Interesting article from Economics Professor and heavyweight Martin Feldstein in the Financial Times this morning - suggesting a temporary vacation from the single currency might be a plausible solution to the Greek debt crisis.
It's one we haven't heard before...and definitely an interesting idea for how to take some of the pain out of Greece's restructuring.
For more of our take on what the options for a Greek bailout might be, see our briefing from last week.
1 comment:
I suppose "taking a break from the EMU" means that Greece will have the power to pay off its debts with its own debased currency, thereby cheating its bondholders. Why would the EU deemed this to be an acceptable policy? It is tantamount to telling a disreputable family member that it OK to rob people as long as he commits his crimes elsewhere.
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