From Robert Reich today:
"The
Greek bailouts so far have really only bailed out Greece’s creditors.
None of the money stays in Greece to help it rebuild its economy and
alleviate the suffering of the Greek people. But European Central Bank
President Mario Draghi has the power to pump money into Greece by
creating more euros and buying up Greek government debt. Will Draghi use
monetary policy to save Greece?
"An
interesting historic fact: I mentioned a few days ago that in the early
2000s Goldman Sachs helped Greece hide its mounting debt off-the-books,
and in the process doubled that debt. Who was then Goldman’s Vice
Chairman and the Managing Director of its International Division? Mario
Draghi."
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